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Insmed Incorporated Message Board

  • justarook04 justarook04 Apr 1, 2014 7:57 AM Flag

    From the Street of all places

    From a technical perspective, INSM exploded higher here back above its 50-day moving average of $18.94 with heavy upside volume. This stock recently pulled back to its 200-day moving average with extreme downside volume and subsequently found buying interest. Shares of INSM are now starting to trend within range of triggering a major breakout trade. That trade will hit if INSM manages to take out some near-term overhead resistance levels at $19.79 to $21.15 and then once it takes out its 52-week high at $22.29 with high volume.

    Traders should now look for long-biased trades in INSM as long as it's trending above some support around $17 and then once it sustains a move or close above those breakout levels with volume that's near or above 657,923 shares. If that breakout starts soon, then INSM will set up to enter new 52-week-high territory above $22.29, which is bullish technical price action. Some possible upside targets off that breakout are $25 to $30.

    Sentiment: Buy

13.16-0.29(-2.16%)Aug 21 4:00 PMEDT

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