NTLA - Consolidation in tight range - (8/30/21)

Chart has consolidated very nicely since the earnings gap up. Since the gap up we have had sellers in control for a period of time (indicated by AVWAP from PEG) but has flipped to buyers being in control since price is above the AVWAP. As indicated with the white arrow it appears that this could be the higher low and we could be seeing some movement from this name. We have held the 23EMA very well and it is now catching up which could mean that the time needed for this to settle is complete. ATR (red line above chart) has been declining which is great after a PEG. The RSI has also stayed above 50 during this consolidation which is a good sign. Overall we have many factors working for us in this chart. I believe the best action on this would be to buy on a reversal day since those have been the best days to buy in this market. Any buys on the 23EMA is solid. Can use the 23EMA to manage risk or the AVWAP.

On the bear side we have the top rectangle being a resistance point and it has tested this area about 4 times. Also you could say that the buyers and the sellers are still fighting for control since price has moved up and down the AVWAP but since the trend is your friend I will say this is a good sign. I think it is constructive because I think this is tiring out the sellers.