Trade Setup: Buy/Long Intellia Therapeutics
Keeping an eye on this name for tomorrow's session.
NTLA has been in a low volume consolidation since 'gaping' higher on the back of it's earnings. I'm not too concerned that I missed the reaction to earnings as my only goal is to be on the right side of the next 15 to 25%, whether that be long or short. In any case, I'm not always in favour of going into earnings (as new trade) with stock as anything is possible, especially in biotech.
Provided we see a close above $164.90, or strong intraday price above this level, I believe it could be a swing long.
Stop-loss: $151.90
Target: $193.00
Last Close: $162.33
NTLA
NTLA has been in a low volume consolidation since 'gaping' higher on the back of it's earnings. I'm not too concerned that I missed the reaction to earnings as my only goal is to be on the right side of the next 15 to 25%, whether that be long or short. In any case, I'm not always in favour of going into earnings (as new trade) with stock as anything is possible, especially in biotech.
Provided we see a close above $164.90, or strong intraday price above this level, I believe it could be a swing long.
Stop-loss: $151.90
Target: $193.00
Last Close: $162.33
NTLA
