Fate Therapeutics Inc (NASDAQ: FATE)

Fate Therapeutics, Inc. engages in the development of programmed cellular immunotherapies for cancer and immune disorder. Its pipeline of products include immuno-ocology candidates and immuno-regulation candidates.

Take a look at the 1-year chart of Fate Therapeutics (NASDAQ: FATE) below with added notations:

1-year chart of Fate (NASDAQ: FATE)

FATE had been trending higher at the start of the year, but the stock eventually got stalled at $32 by the bear market. The stock has since hit that same $32 (red) two more times. A solid close above that $32, 52-week high resistance should lead to another leg higher for FATE.

The Tale of the Tape: FATE has a 52-week resistance at $32. The possible long position on the stock would be on a breakout above that level with a stop placed under it.

Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Making these decisions ahead of time will help you decide which side of the trade you believe gives you the best opportunities.

No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital preservation is always key!

Good luck!
Christian Tharp, CMT