Intellia Therapeutics (NTLA)
By Thu, Apr 22, 2021
Today’s Chart of the Week comes from our Under the Hood Report, which aggregates data points to identify significant increase in investor attention.
We are looking at Intellia Therapeutics (NTLA), a midcap biotech stock we believe is ready to break out.
NTLA is showing strong relative strength, in a great sector, and as long as it’s above that 71 level, is breaking out to the upside.
We are long on NTLA above (and only above) $71.
Below that, it’s not a breakout.
We have target of $110, giving us 39 points profit (55% gain whoop whoop) with minimal risk — our favorite type of trade.
Til next week, good trading,
JC Parets
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About the Author
JC Parets, founder of All Star Charts, specializes in finding the most opportunistic risk vs. reward propositions while at the same time bringing a top/down approach to the marketplace whose wide spectrum is rivaled by few. JC begins with a long-term global macro perspective and then works his way down to the individual sector and industry level before ultimately isolating the stocks that best portray a particular thesis. Price is the most important technical indicator, but JC uses supplements such as Momentum, Relative Strength, and Fibonacci analysis to complete the process.
