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Editas Medicine – Accumulation phase

Editas Medicine ( Nasdaq: $EDIT ) is a gene editing company at the leading edge of the revolutionary CRISPR technology.

The rising exchange volumes on the weekly scale has the hallmarks of rising interest and shares accumulation, whereas the relative strength is also progressively rising and should soon turn positive. Last week the price broke above the 30-week moving average, which has itself stabilized horizontally. The most positive development should happen when the stock price will break through the descending resistance line to reach USD 25. From there it should swiftly soar into the following USD 30 to 40 price supply area.

Disclosure: I am long #EDIT at an average share price of USD24.68 for the long term.

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