INMD has fallen more than the overall market in the past month, but it is finally getting back to its longer term trend zone formed from its post-pandemic reversal. I am seeing the support from around $33.25 down to around $32.50. The risk to reward will be there for me under $33. The overall fundamentals haven't changed much, and they continue to grow at an impressive rate. I started accumulating on Friday, and will continue to add as we see if this support holds. Note
It broke through the trend zone, but I have noticed fairly heavy volume on calls in October and November. Is this just a liquidity grab before the reversal, or a bear flag forming before continued downside. I am in Jan. 2024 calls as of close today, Friday 9-22. I will cut if they lose more than a third of their value.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.