Oversold conditions?Having a look at the trendlines gives us a perspective of where we are now. We just broke bottom trend line, but below that bottom trend line there are strong support levels which seem to hold. Earnings upcoming in 6 days and other sector catalysts like Intellia earnings tomorrow.
EDIT trade ideas
EDIT: Potential 50% ish upside with 8.3:1 r/r hereI like the odds in $EDIT, strong chart setup in the 2-day timeframe, earning levels give us a nice estimate of overhead resistance. Chart has been basing for a while, and could be ready to break up from here, after coiling for a long time.
I'd reccomend buying into it around here, or maybe buying call options due to earnings risk.
Best of luck,
Ivan Labrie.
EDITAS MEDICINE INC - EDIT - US EQUITIES TECHNICAL ANALYSISTicker: EDIT
LAST= 26.20
EDITAS MEDICINE INC movement during the last few days showed a Sideways movement, with a recent low price seen on Mon 24.Dec.2018 at 17.80
The Short-Term view is expected to continue to be UP as long as the price is above 25.75, and it's recommended to ' BE LONG ' for a targeted price of around 29.40 Taking in consideration the resistance levels.
On the other hand, a change in the direction of the general trend needs to be considered when the price trades below the level 22.88
Res_2 = 29.00
Res_1 = 26.65
Sup_1 = 24.30
Sup_2 = 21.95
EDITAS MEDICINE INCSun 02/Dec/2018
Ticker: EDIT
LAST= 31.16
EDITAS MEDICINE INC movement during the last few days showed a Bullish move, with a recent high price seen on Fri 30.Nov.2018 at 31.21.
During the next few days the price is expected to go up for 31.21 and then to 32.40.
The Short-Term view is expected to continue to be UP as long as the price is above 29.05. But as of now, as long as the price is trading above 28.75, its recommended to for a targeted price of around 33.70 Taking in consideration the resistance levels.
On the other hand, a change in the direction of the general trend needs to be considered when the price trades below the level 27.35
Res_2 = 32.55
Res_1 = 31.38
Sup_1 = 30.21
Sup_2 = 29.04
Long EDIT @ trendline supportA tight stop could be set here but I went with a bit looser one that would confirm a break down from trendline. Could be held long term or short. Good risk:reward.
The topic of genesiology/eugenics may be ignored and considered morally reprehensible in modern society, but appears to be inevitable. I will ignore moral argument for this discussion.
The film Gattaca presents a vision of a future society driven by eugenics where potential children are conceived through genetic selection to ensure they possess the best hereditary traits of their parents. NASA has named Gattaca as the most accurate science fiction film of all time. Selective genesiology is inevitable.
This article reviews modern research aimed at making Gattaca the future. nerdist.com Some researches are quoted as saying genetic selection will be reality as soon as 5 years from now.
Gender and eye color can already be selected for with a procedure known as pre-implantation genetic diagnosis (PGD).
Key traits could include height and skin color. Susceptibility to cancer, heart disease, obesity, and genetic disease could also be on the table. Industries associated with these traits are already trillion dollar industries. Studies show height plays a major role in male social & financial success. Koreans and other asian culture pump millions into solutions to lighten their skin.
Gene replacement and repair with enzyme complex CRISPR/Cas9 has already been successfully performed in human embryos but 100% success has not been achieved and embryos have not been allowed to gestate. This technology will likely be used to revolutionize the agriculture industry before human applications are practical. Stocks in this category are highly dependent on the success or failure of the CRISPR-Cas9 procedure, and as the limitations of the procedure become more clear, stock prices will suffer.
Stocks
NASDAQ: NTLA Intellia Therapeutics Inc is a research company deticated to in vivo gene modication. Risky bet, highly depedent on CRISPR-Cas9 procedure Market Cap: 1.2B P/E: -- No entry currently watch for move down to daily volume node
NYSE:COO CooperSurgical is a business unit of The Cooper Companies, Inc., a global medical device company involved with IVF technologies Safe bet, dividends, earnings Market Cap: 11.2B P/E: 30 Entry available now with option for tight stop
NASDAQ: EDIT Editas Medicine is a biotechnology firm with a mission of using gene editing to treat disease. Risky bet, highly depedent on CRISPR-Cas9 procedure Market cap: 1.8B P/E: --
CRSP Biotechnology start up company based on CRISPR-Cas9 genome editing Risky bet, highly depedent on CRISPR-Cas9 procedure Market cap: 3.2B P/E: --
ARKG ETF of genome companies (includes most of the above companies)
Articles
NASA has named Gattaca as the most accurate science fiction film of all time. www.theatlantic.com
This article reviews modern research aimed at making Gattaca the future. nerdist.com
Over 5,000,000 babies have been born using IVF assisted technologies (which can allow for selection of eye color and gender) www.livescience.com
Gene replacement and repair with enzyme complex CRISPR/Cas9 Performed (this is the complex that allows for discovery of genes related to various diseases, even baldness, height, etc) www.nature.com
CRISPR patent legal battle (update on ongoing legal battle between Editas Medicine (NASDAQ:EDIT) and CRISPR patent holder) www.scientificamerican.com
Podcast about Gattaca,
EDIT: Equity offering bearish or is it time for a reload?earlier in the day, EDIT announced on a 50M public offering of common stock, resulting in diluting share holders on a P/E basis and also hinting the possibility of financial distress or mis-calculation on future earnings or road blacks.
From a purely technical standpoint, it was already a logical place to take profit and look for future strength to see if the trend will continue. It's important to note of this trend line support, as well as the general Fibonacci ranges. should EDIT blow through the trend line support, we should take chips off the table and anticipate some type fo bearish terms for the public offering.
its also crucial that we pay attention to the oscillators levels for confirmation of a continuation of trend or a trend reversal. Granted, these oscillators are not gospel but they do help anticipate direction and overall confluence in the general market.
Range to add are: 24 USD
Range of Price targets to take chips off the table: 30 USD & 40 USD
SL is 21.50 USD
Chance to take a swing hereLooks like the correction comes to an end soon. If so, I will enter a long position.
Entry trigger for me is a (small) bullish candle, after the last bearish. That all has to happen in the H4 chart to be a strong signal for me.
At 22.63 $ we have our first resistance, could be that price bounces back from there, so keep an eye on that.
If there is no bullish candle, I will not enter a position!
Good luck, and best of trades to you!