Edita Medicine Just Got Spliced

I wanted to discuss Edita Medicine and the waterfall of trading today. I have clipped a screenshot of the stock EDIT on a 15 min chart. On top of huge trading volume for the session (already above daily average), the trend is incredibly strong and clearly biased today. This is what we mean when we say “sellers are in control”. It is clear which side is controlling the trading momentum today and and sellers are having a field day. If EDIT continues to drop without news (which makes this even more alarming), I suspect that sellers are targeting the $23.00-22.50 range on the downside. Considering EDIT is above $31 as I currently write this commentary, there is a great profit potential if the weakness continues. EDIT does report earnings on Aug 8th, but there is more than enough time for the stock to continue their selloff. This is a name to watch to the downside for the time being.