Sangamo Therapeutics Inc (NASDAQ:SGMO) jumped 75 cents, or 7.85%, Friday to close at 10.25, just slightly below its key resistance at 10.50. A break above this level could move the stock significantly higher on the way to targets of 11.30 (R2) and then 12.10. Initial stop loss is 9.12 (EMA9).
Looking at the technical chart, daily technical indicators are turning bullish. MACD is rising above its signal line in positive territory again and RSI is rising sharply above its 50% level.
Long setup on watch.
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This is a guest post by António Costa, acclaimed trader and the popular author of AC Investor Blog. All views and analysis belong to the author.