(Posted on behalf of mptrader.com and author Mike Paulenoff)Tuesday May 22nd, 2018 by Mike PaulenoffSGMO-- has clawed it way into the green after trading down to a low at 15.15, which we see on the enclosed chart represents a violation of the nearest term support line off of the the 5/08 low at 14.10. That said, however, SGMO did not follow-through to the downside after breaking the support line, and instead has climbed to 15.70/75. Although these are innocuous micro price moves, the inability so far of SGMO to gain downside traction beneath 15.40 is a positive technical sign that is not much selling pressure under 15.40, and that all of the action during the past two weeks is part of a bottoming process or a holding pattern ahead of forthcoming news about its gene editing cell therapy aimed at eradicating sickle cell disease. While investors await anticipated news during the June to August timeframe, a climb above 16.25 (the price of its recent secondary offering) and thereafter a sustained climb above 16.60 will trigger near term buy signals that will point initially to 20-22... Last is 15.70/755 22 18 SGMO GIF Mike Paulenoff is author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial!* I really like Mike's charts and analysis. This is shared with my readers here via MPtrader.com *Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. Follow us and check back occasionally for additional articles or comments.