During Tuesday's Mad Money program Jim Cramer cautioned viewers against the CRISPR stocks hoping that human genome editing will usher in the cure for cancer and other ailments. Genomics is indeed a hot science, he said, but it's also incredibly risky. Let's take a look at the charts of CRISPR Therapeutics AG (CRSP) again.
On Dec. 22 we looked at CRSP and concluded that, "if you are still long CRSP then you are way smarter than me. Longs should risk to $145. The round number of $200 and then the Point and Figure target of $230 are the price objectives for now."
In this updated daily bar chart of CRSP, below, we can see that prices remain in a strong uptrend above the rising 50-day moving average line and the rising 200-day moving average line. The On-Balance-Volume (OBV) line has moved higher to confirm the price gains while the Moving Average Convergence Divergence (MACD) is above the zero line and poised for a new buy signal.