JonathanKrier
Long

EDIT: Equity offering bearish or is it time for a reload?

NASDAQ:EDIT   EDITAS MEDICINE INC
earlier in the day, EDIT announced on a 50M public offering of common stock, resulting in diluting share holders on a P/E basis and also hinting the possibility of financial distress or mis-calculation on future earnings or road blacks.

From a purely technical standpoint, it was already a logical place to take profit and look for future strength to see if the trend will continue. It's important to note of this trend line support, as well as the general Fibonacci ranges. should EDIT blow through the trend line support, we should take chips off the table and anticipate some type fo             bearish terms for the public offering.

its also crucial that we pay attention to the oscillators levels for confirmation of a continuation of trend or a trend reversal. Granted, these oscillators are not gospel but they do help anticipate direction and overall confluence in the general market.

Range to add are: 24 USD
Range of Price targets to take chips off the table: 30 USD & 40 USD

SL is 21.50 USD
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