Take a look at chart technicals and prior levels of Support, now resistance. We broke through $8.50, then closed above $9.80. I see this rally continuing until &11.35 ish. At that time it will either Bounce off the level of resistance and play in limbo land between $10 - $11 until we receive phase 3 results this summer, or if the momentum is strong enough it may break through. If we break through $11.35ish prior to phase 3 results we are flying until $15 and change. Given positive phase 3 results I see this stock between $15 - $25! Depending on companies outlook for distribution of the drug given a full FDA approval, as well as given the results for there phase 2 trial end of 2013.
I just started looking at this stock today. This is only the beginning! Loaded up on Options!
gpalmer8888- Good analysis. I looking for a possible top there also, and that is where the big risk is.
The 11.35 is a multi year top and the level where Insmed had "pure cash value" after the failure of iplex (former dropped drug) and the sale of the FOB plant.
It is the level many here hold stock.
The CF indication is only being trialed in Europe. Lets see what the short interest inventory builds to
Palmer,,you just started looking at this stock today, and are able to make this in depth, and detail
examination? You sir, are in the wrong line of work, and should immediately go to Washington
and take over the Federal Reserve Bank.
Korthh, I just erased my reply because I don't want to publicly speculate that far into the future but I have a definite opinion, and I believe yesterday's technical breakout was the "beginning" of the "beginning." Years ago I posted a prediction that I think is still going to come true.