Editas bear trapi am still long EDIT from 13$, 16$ and $21 holding my long term positions.
But need to switch from log to linear scale here to find the support, this current dump seems like a bear trap to shake out the weak hands who bought into the patent news hype. smart money has taken profit on double up causing the first sell off.
If the linear trendline is broken down we have to expect a longer correction phase with support at 18$, 16$ and 13$. Below 12.50 is very unlikely and would require a major fundamental change.
I expect smart money to buy back before the next coming media attention and that we are still in the first awareness phase.
my target over the next years is 63$ ~ 2b cap
The bearish scenario is that this is a b wave and we go for an impulsiv c down to 2-10$, but at 10$ we would have a company value of below 500m... Very unlikely because this would allow people to enter below the price that the venture capital like google ventures and bill gates entered EDIT. These firms would likely add up and defend their long position in this promising company.
