Crispr Therapeutics AG (NASDAQ: CRSP) is currently down 2.8% at $56.35 this afternoon, extending a decline from its Feb. 22 peak of $91.10, marking a pullback over the last month by 20.8%. This has resulted in a year-to-date deficit of 9.6%.
For potential investors eyeing an opportunity amidst this downturn, the recent decline places Crispr Therapeutics stock close to its 320-day moving average, historically considered a bullish indicator. According to Schaeffer’s Senior Quantitative Analyst Rocky White, there have been two similar signals in the past three years. On both occasions, the stock was higher one month later, with an average gain of 13.3%. Should a similar trend occur now, the shares could potentially reach around $63.85.
Crispr Therapeutics stock currently holds a 14-day relative strength index (RSI) of 18.2, signaling a deep “oversold” status, often suggestive of an impending short-term rebound. Additionally, with short interest comprising 17.6% of the available float, it would take approximately eight days to cover at the stock’s average trading pace.
Moreover, the Schaeffer’s Volatility Scorecard (SVS) registers an impressive 86 out of 100, highlighting that the stock has consistently surpassed option traders’ volatility projections over the past 12 months. This trend is particularly advantageous for buyers of premium.
