14 Sept, 2023
Introduction
Greetings, fellow investors! Welcome back to ShareTrekc. I’m Raj, and today, we’re diving into the fascinating world of CRISPR Therapeutics. In this blog post, we’ll explore the recent developments in CRISPR’s stock and the potential upturn that might be on the horizon.
Setting the Stage
For the past few months, CRISPR Therapeutics has been on a rollercoaster ride. The stock reached its peak at around $71 on May 10, 2023, only to face months of decline. But hold on tight; there’s something interesting brewing.
A Tempting Bullish Pattern
Amidst the turbulence, a tempting bullish pattern emerged. It appeared as if the cup was complete, but the handle seemed uncertain, caught in a consolidation phase. Then, something intriguing happened.
A Breakthrough Attempt
For the seventh time, the stock price attempted to break through the $51.44 mark, and this time, it might just succeed by the end of the day or tomorrow.
16 Days of Consolidation
Over the last 16 trading days, CRISPR shares danced within a narrow range, fluctuating between $49.13 and $51.56. It seemed like a prolonged pause, but in my opinion, the time for action has arrived.
Investor Hesitation and Volume Analysis
Previously, a bearish pattern might have been expected. However, the consolidation appears to be more about investor hesitation, a reluctance to sell, possibly fueled by anticipation of Exa-cel approval. Interestingly, during these 16 days, trading volumes remained below normal.
The Momentum Shift
Looking at the charts today, it’s evident that momentum has slowly crept above the average line, a promising sign, especially when combined with a bullish MACD.
The Countdown to December 8, 2023
As a crucial date approaches, keep December 8, 2023, marked on your calendar. On or before this target action date, the FDA will make a significant regulatory decision regarding CRISPR Therapeutics’ application. This decision could determine the stock’s fate, whether it gets approved, rejected, or faces further study requests.
Institutional Insights
But what about institutional investors? Have they been steadily selling? If they aimed to sell within a specific price range, they might have contributed to the consolidation we witnessed between $49 and $51. If they’ve finished selling, we could be in for a bullish ride. If not, brace for more sideways trading.
A Comparative Glance at Bluebird Bio
Taking a quick look at Bluebird Bio, it’s clear that CRISPR is charting a unique path, even though both companies are free from the FDA’s adcomm scrutiny. The financial positions and shareholder sentiments differ between the two, which might explain the divergent patterns.
Your Thoughts Matter
Now, over to you, dear readers. Do you believe CRISPR (CRSP) is poised for an upswing, or do you foresee further downward pressure? Share your thoughts in the comments section; your insights matter.
Conclusion
That’s all for today’s analysis. Stay tuned for more updates on CRISPR Therapeutics and other exciting investment opportunities. Until next time, happy investing!
Bye for now.
Regenerate
Sharetreck - Tracking Genomic Investments & clinical trials for HIV. 