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Insmed Incorporated Message Board

  • x10bagger x10bagger Nov 21, 2013 2:44 PM Flag

    Bull Pennant Pattern

    INSM's chart looks like a 3 month bull pennant that was interrupted by the disruptive Adam F article. This looks like it may pop upward big time. I'm not a chartist, but this looks like a pretty nice long setup.

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    • I agree :)

      Sentiment: Strong Buy

    • 10xbagger,
      There has been no interruption in the upward trendline that can be traced back to 2/27/13. It was challenged on 10/9/13, when a gap at $12.16 missed being filled by a mere cent. If you remember, at that time the entire biotech sector was experiencing a sell-off with the Spider Biotech Sector Fund XBI hitting its low water mark since 7/10/13. The subsequent Fraudstein hit-piece had a far less significant effect, probably because there aren't very many dreamy, gullible, uninformed holders left.
      So now, we have a support line which is much more steeply upright, which forms the bottom of the pennant you have pointed out. I've always debated whether I should chart exponentially or not. But it is interesting that the latest steep support line in an arithmetic chart merges very well into a longer term exponential support line back to 2/27/13. This tells me we are about to go exponential.

    • A chart pennant is consolidation not interruption.You say you are not a chartist and then say it looks like long setup. INSM has been in a neutral (LT)trading range for months.Those that took profits are in cash.

    • As long as a bull pennant is better than a #$%$ pattern:)

      Sentiment: Strong Buy

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