The chart pretty much explains it...What do you think?
Key Takeaways A descending triangle is a signal for traders to take a short position to accelerate a breakdown. A descending triangle is detectable by drawing trend lines for the highs and lows on a chart. A descending triangle is the counterpart of an ascending triangle, which is another trend line based chart pattern used by technical analysts. Bullish flag...
Last year I published my interest in this stock with a medium term bearish view. I now see new major highs are on the horizon.
Watching this one. Many stocks have entered this parallel channel pattern since the beginning of 2019. Fib channel shows good heartline support. It all depends on what happens with the financial system and stock market in general, but nice swings have been playing out here.
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In my previous post on #CRISPR I talked about the Green upward sloping trendline & how every time CRSPR has traded on or below it since May 2017 we've seen parabolic action. I don't want to say I told you so, but we've seen some parabolic action. To my surprise, the parabolic movement came the news of Vertex upfront payment of $175 million upfront payment....
$CRSP back in uptrend channel...go long with stop loss
Since July 2017, every time CRSP has traded on or below the Green upward sloping trendline CRSP has seen some parabolic action. Time will tell per usual.
long CRSP accumulation to shoulder break headed to neckline
With some investor conferences and earnings coming there is a good chance that CRSP can significantly pop up out of the channel again, or at least continue its upward trend. I expect it to move into the new zone between $40.06 and $47.08 within a month and if it crosses over to remain above. If it touches the ichimoku cloud I will back off as I can see it...
C wave of the big correction coming up. 20.5 R short have fun
subwave B retraced .5 time for subwave C of B
looks like this is the bottom of subwave iii, in the first A wave of ABC correction. can buy for a bounce play to subwave iv. targets .236, .382, .5 retracement on the chart
The deep retracement of more than 62% is a sign for a wave 2 and indicates a wave 3 has begun, which will lead to new highs.
I view CRSP as one of the most interesting biotechnology stocks out there. DYOR. If it works, it will be huge. I am happy to see there will be opportunities to accumulate some stock, after I short it into my ideal entry levels.
Possible ABC correction to $30 zone.