SGMO long

19 Mar 2015

A lot of bios are seeing this similar kind of pattern - a longterm sideways move after an uptrend. SGMO has this H&S like pattern and seems to have broken above the neckline in february. It started to consolidate a little and seems to have broken out above the 17.50 level today. I did miss that b/o even though I was following it, but a pullback to around that level might be a buying opportunity in the coming days. I would place a stop below the pullback used for entry or just below 17 to give it a little more room. Notice how the RSI shows a reading of only 63 on a 8% daily gain. There is potential for resistance around 20 and around 22-24 with a longterm high and the yearly r1 coming together. If SGMO breaks over 24 there is def potential for a big move to come.

Safe trading!