Ok guys, so I'm back again today with another entry on CRSP. I was a lil early on my entry at 53.83 as it actually dropped down to 52.80 on the panic, I thought I was good because it came down from a morning spike 54.47 ish but as I should know, morning gappers can go almost back to break even in todays markets before coming back up. I will post a picture of the chart showing my entry and where I should have been a lil more patient to get in but to the strategy, on Friday the stock closed red but not to far from its highs and I was a lil disappointed on its performance but consolidation was needed so I got over it but news has come over the weekend rallying up the big biotech performers and CRSP was number 1 on the list. Now I don't usually go off of these types of list, I make my own decisions and form my own thoughts on the trade but the fundamentals of this company I could not ignore and the going up price matches what I think the stock price should be doing. Now I could be wrong and I'm ok with that but you have to be confident in your trade and not irrational in case it does not go as planned and you can get out and minimize losses. Also, last week an article came out that announced CRSP would be attending a conference today APRIL 16th, I believe that this is a major catalyst as they are pending FDA approval on one of the company's main products.( https://seekingalpha.com/article/4160028-crispr-therapeutics-crsp-presents-needham-company-17th-annual-healthcare-conference-slideshow) I believe that this could catapult the company to trade close to its highs 2 weeks ago near the 61.00 range. I do buy in anticipation for stocks that I believe are closing in on catalyst because I know I can get out if I need to and if the trade does work I'm in before most and catch a nice part of the move, now I would not apply this same anticipation strategy to OTCBB stocks but I don't really trade those, my taste tends to be actual listed stocks and real companies cause its more reliable to me as a trader and I feel like they actual adhere more to trading style. Now my third reason for rebuying this stock today was the crazy amount of insider buying. And also, Europe just approved for the first humans to be genetically modified to gene edit out a blood cell disease called beta thalassaemia and which company is going to be conducting such test? CRSP. This is a huge step not only for the company but for the human race as well if this does work. Seeing as this actually a real company and not the bull press hyping up a pennystock I in general am confident in my buy and that is why I'm holding this overnight for a swing trade. 

Categories
Price Action: Morning Panics
Tickers
CRSP
Received 1 Karma
the top chart shows over the last week that this stock is getting close the multiweek breakout levels and shows how strong support is in this stock and that it is in fact about to make a big move in my opinion and the bottom chart shows my entry for the day. This stock has a habit of bouncing off of support a few times before sky rocketing in the day usually for solid gains so lets see how this pans out
Join now or log in to leave a comment