CRSP's Genetic SurgeCRISPR Therapeutics AG (CRSP) is exhibiting strong bullish momentum, with a notable gap forming around the $40.00 level. A breakout above the $58.07 resistance would confirm further strength, positioning the stock to target the $73.90 resistance. This trade setup offers an excellent risk-to-reward ratio, with a stop-loss set at $29.52 to manage downside risk.
The company's recent achievements bolster this bullish outlook. In December 2023, CRISPR Therapeutics, in collaboration with Vertex Pharmaceuticals, received U.S. FDA approval for Casgevy (exagamglogene autotemcel), the first CRISPR-based gene therapy, targeting sickle cell disease and beta-thalassemia. This groundbreaking therapy has also been approved for use by the UK's National Health Service (NHS), marking a significant milestone in gene-editing treatments.
These developments underscore CRISPR Therapeutics' leadership in gene-editing technologies and its potential to revolutionize treatments for genetic disorders. The successful commercialization of Casgevy could substantially enhance the company's financial performance and investor confidence.
This combination of technical momentum and fundamental strength supports a bullish push toward $73.90, making CRSP an attractive opportunity for traders and investors alike.
NASDAQ:CRSP