I have know about this stock for over a year now, but I have never put the time into charting it. The time is near to buy in, and the patient investor will wait for the MACD to bottom out then buy.
An inverse head & shoulders pattern formed in the charts of Intellia, a company developing CRISPR gene-editing therapy. While CRISPR has not been approved to begin human trials in the US, it has already been tested on over 80 patients in China.
Target: $31 (previous closing high), or long term hold
Stop: $18 - $20
I am long for this stock. For right now this is an easy money grab with a low probability of failure. Shorting before $15.30 leads to the best probability of success. I intend to close this position before earnings are released.
NTLA rejected off the 17 level and retested high 15s as expected but looks like it's establishing a new support level around 16.25...If so, a couple hundred of my shares will be called away next Friday at 15.78 avg. so I'm waiting for next nice red opportunity to sell more 15 puts on this to keep reducing avg. cost. While I'm long CRSPR stocks (NTLA, EDIT & CRSP),...
NTLA has been flying through resistance levels from oversold conditions and looks like it's testing 17.28 resistance to establish it as support. If it closes above, likely going higher - if it rejects off of 17.28 then likely retest of high 15s before re-testing 17s. Apart from ongoing patent battles, this company was hit by a scientific paper that made unfounded...
Solid long but looks like it may test 14.25 & possibly even to lower support levels over the next week or so barring any news...should have sold calls when that shooting star closed!
