CRSP - Looking bearish

CRISPR Therapeutics AG, all signals looking good for a bearish swing trade. All indictation looking good pointing toward the downtrend to $56.17 support line, with an attractive ATR of 3.93, whats not to like to swing that $5 move bearish claw.
An oppotunity you do not wanna miss.

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Not sure I agree with your analysis. Firstly there is a weak support line at approx 59. Yes indicators are bearish at the moment but that has to be put into the context of the recent moves. Also you are not considering momentum indicators and oscillators which are an essential part of swing trades.

There was a strong rise in early May associated with strong results. The price is sitting just below multiple MA lines so either those will act as resistance pushing the price down slightly or if the price breaks through them they will carry the price higher. Indicators such as the stoch are negative but entering oversold territory. The price has effectively entered a range channel since the strong rise in early May and it is still in that channel (61.5-68). There is equal indication of it testing the upper side of the channel than breaking to the downside. The early May rise was very strong and on fundamentals. I am not saying that the price will not dip (many indicators are negative) but without knowing much about the company (I don’t hold) I wouldn’t put a particularly bearish take on the chart and 56.17 is a bold target. Also there is the possibility that the May rise created a temporary falling resistance line from the Jan 2021 peak and if the price now breaks that resistance (currently about 65.5) it will create a support and trading on Friday could be a battle over which side of that falling line the price will sit for a few days (potentially with target resolution by the end of June)

@GodewynGarcia I hope you didn’t short it. Currently up 3% today