Crispr Therapeutics AG (CRSP) presents attractive trading opportunities for both long and short positions.
The technical analysis suggests a strategic entry point for long positions near $35.21, with an upside target of $43.04. This level serves as the first support below $40.48, and any test of this support is seen as a buy signal. To manage potential losses, a stop loss at $35.11 is recommended.
On the other hand, a short position is advised as CRSP approaches the resistance level of $43.04, with a downside target of $35.21. A stop loss at $43.16 is suggested to protect against adverse movements.
Swing traders should consider entering a long position if CRSP breaks above the resistance level of $43.04, with a target of $52.41 and a stop loss at $42.92. Conversely, if CRSP tests the $43.04 resistance without breaking through, shorting the stock with a target of $40.10 is recommended.
Day traders can also take advantage of CRSP's potential breakout above $43.04, with a buy signal just above this level, targeting $52.41 and a stop loss at $42.94. Alternatively, if CRSP tests the $43.04 resistance during the trading day, a short position with a target of $40.13 is warranted.
It is important to monitor resistance levels closely as they can influence trading decisions and market sentiment. The current market sentiment for CRSP is weak, with support at $35.21 and resistance at $43.04. Traders should remain cautious and stay informed about market trends and investor sentiment.