Signal price

CRISPR Therapeutics base may support further price hikes

Gene-editing company CRISPR Therapeutics (CRSP) established a baseline pattern during the January-July period and indicators support the potential for further price gains. Let’s see the graphs.

In this daily CRSP bar chart below, we can see that prices fell to a low in May, but the basic pattern appears to have moved from February. The daily On-Balance-Volume (OBV) line bottomed in February and rose in March, indicating a shift from aggressive selling to aggressive buying.

Prices have been criss-crossing the 50-day moving average line since March. CRSP rallied above the 200-day line in early July and now the line is bottoming out. The MACD (Moving Average Convergence Divergence) oscillator is above the zero line and is about to rise.

In this weekly Japanese CRSP candlestick chart below, we can see a reversal pattern from the bottom in early May. Prices have recovered above the 40-week moving average which is starting to bottom out.

The weekly OBV line shows some improvement from February. The MACD oscillator has risen and is about to cross the zero line for an outright buy signal.

In this CRSP daily point and pattern chart, below, we can see a potential upward price target at the $103 area.

In this second CRSP Point and Figure chart, below, we have used weekly price data. Here the software suggests a target in the $121 area.

Background strategy: Traders who followed our July 1 update should continue to hold these positions. The $88-$102 area is our price target.

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