Trade Idea: INBX (Inhibrx) - Breakout Play

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๐Ÿ“ˆ Ticker: INBX (Nasdaq)
๐Ÿ’ฐ Entry: $19.80 (breakout zone)
๐Ÿ›‘ Stop Loss: $14.22 (below key support)
๐ŸŽฏ Take Profit: $39.59 (measured move + Fib extension)
๐Ÿ”ข Risk/Reward Ratio: 2.8:1
๐Ÿ” Technical Setup
โœ… Trend: Strong daily uptrend (higher highs & higher lows).
โœ… Breakout Level: $19.80 (previous resistance, now support).
โœ… RSI (14): Neutral (~60), no overbought signal.
โœ… Volume: Increasing on upward moves (bullish confirmation).
โœ… MACD: Bullish crossover in daily timeframe.

๐ŸŽฏ Why This Trade?
1๏ธโƒฃ Breakout Confirmation: Price has cleared resistance at $19.80, signaling potential continuation.
2๏ธโƒฃ Strong Upside Target: $39.59 aligns with:

1.618 Fibonacci extension from recent swing.

Measured move from consolidation range.
3๏ธโƒฃ Low-Risk Entry: Tight stop below $14.22 (swing low + psychological level).

โš ๏ธ Risk Management
Stop Loss: $14.22 (28% below entry).

Position Size: Risk only 1-2% of capital per trade.

Trailing Stop: Consider moving SL to breakeven if price reaches $25.00.

๐Ÿ“… Timeframe & Strategy
โณ Holding Period: 3-6 months (position trading).
๐Ÿ“Š Ideal Scenario:

INBX holds above $19.80 and continues uptrend.

Volume supports bullish momentum.

โŒ Invalidation Criteria
If price closes below $14.22, exit trade (failed breakout).

Watch for bearish RSI divergence or breakdown below $19.80.

๐Ÿ“Œ Final Thoughts
INBX shows strong technicals for a long-term breakout play. The 2.8:1 reward/risk ratio makes this an attractive swing trade.

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#INBX #Breakout #Stocks #Trading #Investing #TechnicalAnalysis #PositionTrading

(Disclaimer: Not financial advice. Do your own research before trading.)

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