Actually played this today purely just because it looked like it had decent relative strength to SPY but turns out it could be setting up for a short squeeze.
From the charts, when SPY first dropped down to 380, we saw CRSP drop down to about $40. Then when SPY dropped again down to 380, CRSP set a higher low at around $50. Every area of consolidation over the past month or so on SPY has been positive movement on CRSP, from the charts it just looks bullish as hell. Obviously the only problem is we’re in a bear market so the risk is there that SPY could continue to dump.
Two days ago for some reason this also saw massive sell volumes and I can’t find any news as to why.
looks like they released an 8K on the 21st. I dont really understand the medical stuff to know if something in it caused the sell
It looks like in the following days it got a few downgrades and PT changes
Yeah think this might have killed the momentum for now, I’m just gonna keep an eye on it.
CRSP breaking above resistance so I took a position on monthlies here.
CRSP has reached $75 twice; June 9th and June 21st, and has sold off into the $50 levels shortly after. I put in an order for a $69 7/8 put.
Yeah I closed that call. That selloff sucked. Looks like it’s tighenting up though
The good thing is that support is getting higher. The first sell off bounced off $50, and the second bounce off $60. I’d make an entry at $60. This time around it reached $75 on lower volume compared to the other dates. I would say steam is running out on this ticker.
Just wanted to drop this here:
CRSP is also making higher highs and higher lows. I would like someone who’s smarter than me to take a look at this because it seems like shorts are underwater and it looks like it could be a good play.
OBV also shows there’s more buying pressure coming in the last 20 days.
I’m thinking of playing this if CPI data is good. It’s been resisting SPYs red candles really well these past few days.
Been watching this still as well. Getting interesting.
Ended up taking a position, I’m out it drops below 80 though. Volume is big today, hopefully that’s some shorts closing.
I closed near the top for a lil profit because I didn’t like that it wasn’t following SPY up and had to drive home from work
Shares might have been better to time this damn thing.