Jim Cramer & Street dot com says BUY INSM going to 14 below article 7/18 Yahoo headline
5 Rocket Stocks Ready for Blastoff in July - the article below says INSM will set up to re-test or possibly take out its next major overhead resistance levels at $13.45 to its 52-week high at $14.30
Shares of INSM soared higher on Wednesday after the company priced 6 million shares of common stock at a price of $10.40 per share. The offering raised nearly $60 million and the company said it plans to use the cash for continued development of its Arikace, an antibiotic used to treat lung infections.
From a technical perspective, INSM gapped higher here back above its 50-day moving average of $11.47 with strong upside volume. This move is quickly pushing shares of INSM within range of triggering a near-term breakout trade. That trade will hit if INSM manages to take out some near-term overhead resistance levels at $12.17 to $12.22 with high volume.
Traders should now look for long-biased trades in INSM as long as it's trending above Wednesday's low of $11.32 and then once it sustains a move or close above those breakout levels with volume that hits near or above 579.248 shares. If that breakout triggers soon, then INSM will set up to re-test or possibly take out its next major overhead resistance levels at $13.45 to its 52-week high at $14.30