I've been trying to absorb some technical trading knowledge by watching other traders talk setups, and here is a good video from Trade Brigade on CRSP.

The whole Crispr tech complex has been decimated lately, as they all tend to trade in tandem sharing similar gene editing technology, and Trade Brigade talks through a strategy for Monday morning. I'm not going to trade it - but I'm curious to learn from it.

We've seen several news items crush tech/biotech in general:

On the daily side, CRSP was range bound between 115 and 130, but broke to the downside all the way down to 96.

If the trading range was 15 points (130 minus 115), then a 100% downside break would put you at 100, so 96 was even below that floor, so he is looking for a deadcat bounce to retrace some of that downside on Monday.

Plotting the resistance line downtrend, he sees the upside resistance at about 106.

I currently own BEAM, EDIT, VERV, NTLA, CRBU who all have similar charts, so I don't need to add more exposure to benefit from a deadcat bounce here. The bigger question is what do you think of these technologies in general, and I am still bullish long term on their future.

For anyone who has no exposure to this space, this is a great entry point. By way of comparison, I have 14% of my portfolio in those 5 companies listed above.

You can watch his video for his read on the 30 minute charts on how he thinks it's likely to play out.