Worth the waitThe correction looks over with wave 2 retracing upto 78% of Wave 1 and we should begin the uptrend with the large Wave 3 in a 5 wave pattern. Fun ride.
EDIT trade ideas
Edit Breakout resistance is 48.18. Hurly close and volume supported. Resistance at 51.73 and 50.
Target is 63$
ABC BullishPossible stop below C. B is 99.95.
Long impulse wave up and has pulled back to the 0.786.
This one can be very volatile and retests of C are common..and it may go lower than C so maybe set stop accordingly.
Not a recommendation.
There are no rising wedges in the yearly chart. Todays candle is a green engulfing candle. Some use the 5 crosing the 20 as a buy signal and the 5 has not crossed up and through the 20. Long term MAs are sloping up, the 50 is sloping down. NV and OBV are perking up.
Long entry level is an at or above level.
EditLooking for retest of old pattern breakout. Looking for new found support on old resistance. Might pick some up here and see what happens
Company with cure for blindness. Bomb AF in my book!!!
$EDIT - patiencehanging out in the danger zone. Very little support. First area of value is around $37.65. There are some call option blocks spanning 70-90 strike zone coming up in March and April, purchased in February. Buying under $40 seems like a much better position than I hold. Patience is the name of the game. Set your alerts!
Editas Medicine (EDIT) Opinion...This chart is my second, and has to do with my second lovely stock, EDIT.
It is a stock that seems to move in a stable chanel as we can see in the chart.
We obviously see a support zone in ~56.00 that looks stable for now.
I also believe this stock so much and we expect in early March the economic results of the company.
I have multible buys (positions) for this stock opened from 63.00 to 56.00. I will keep them opened of couse but I do not know if i will add more positions but I will attempt to make a prediction and tell that, we will soon see 66.00 at least. I am totally sure that if today will see a green candle, the MACD and RSI indicators will surely show us the way...
EDIT - Add to watchlist - Bull FlagBig beautiful bull flag formation. Concerns? Divergence in MACD. We did get a nice bump in volume on that first bottom in the lower trendline, but then it flatlined after. This might take a little more time to form. Keep an eye on it. I like the fact RSI is forming a bottom. Whenever I see gaps in a flagpole I grow concerned about investors who desperately want to see the gap filled. Keeping this one on the backburner for now. Chart alone looks stupendous though. Friday's candle implies that buyers are coming back. Might just get the bump it needs on Tuesday/Wednesday.
EDIT Genome Editing Long-Term SwingEDIT NASDAQ:EDIT is a genome editing company with treatments being developed for Leber congenital amaurosis**, Usher syndrome, neurological diseases, Sickle cell disease, beta-thalassemia, as well as cancer treatments through NK cells. The leber congenital amaurosis clinical trial is currently the furthest along but still in its earlier stages but has completed dosing all of its patients. The results of that clinical trial will be HUGE. That will set the blueprint for EDIT as a company. The same principles for that EDIT-101 clinical trial are being applied to multiple other medicines and can lay the blueprint for huge medical breakthroughs. ARK believes genome editing is the future of medicine and I agree. This 46% sell off since EDIT’s highs looks to be a strong bounce area. I grabbed a small starter position on Friday last week but will look to add to my position this week and add dips to $50. If we fail $50.48 HVN area I will use that as my stop.
Chart:
EDIT looks to be in a prime bounce zone right now and I will be looking for it to hold the HVN area ($57-$66) for some consolidation. Daily .618 fib retracement line has served as support multiple times and will want that to hold up this week. Need some volume to being accumulating on EDIT and close back over the $58 lvl.
$EDIT - bullish$EDIT
Mapping out a target for $EDIT. C/H in process? Solid bounce off the fib level, vol profile and EMA. Technicals and oscillators are positive. Price nearly above a nicely aligned band of EMA’s. MACD and RSI curling.
NASDAQ:EDIT
EDIT-Descending TriangleA descending triangle hopefully breaking out soon. I got the idea from you Verum0. So I thought Id try to see what i could come up with. Good analysis by the way, as well as your other charts.
EDIT update final draftEDIT had its little mini breakout and then fell down through support. Any chart I post please be sure to zoom out and do your own TA as well. I always stress risk manage and trade smart. Here we have EDIT bounce off 200MA with dragonfly doji, all happening at the bottom of a major trend line (4H chart). Nice risk/reward and solid upside potential here. Good luck!
EDITAS Updated countAfter a nice pullback im thinking we may have the higher low set, certainly possible we make a larger correction but I added on that higher low expecting the follow through at some point.
Watching the rising wedge for potential exit signs and a larger potential top 3rd wave top.
EDIT breakout into a new channelHere we have a new breakout. I see this one making continuation moves up into this new channel once it gets its footing. A solid entry would have been MACD red to green with the cross as shown by the yellow line, nonetheless, If you pickup some calls you should be good here in my opinion.
You know what to do! Manage risk, trade smart!
