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Fan Yang

Crispr Therapeutics (CRSP) - Anticipating Support Around $40

Crispr Therapeutics $CRSP had a bull run in 2019 from a low around $22.50 at the end of 2018 to $52.50 by August 2019. Since then, it has been consolidating or bearish correction. More recently, the sideways action has turned into more bearish action as CRSP fell below a projected trendline as we can see on the daily chart.

CRSP Daily Chart

(click to enlarge)

Resistance to Turn Into Support:
- As price pulls back, CRSP is approaching a previous resistance around $40-$42.
- This was a previous neckline of a price bottom. 
- We also see a 200-day simple moving average (SMA), which would be another reason for support around $40.
- If price indeed finds support around $40, we can be more confident that CRSP has turned bullish in 2019. 
- Then as price rebounds, the $45-$46 area will be a key resistance to break for the bullish scenario. 

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