DOUBLE BOTTOMInteresting double bottom completed, over a multi week base, indeed, volume surged at last week closing above accumulation area, minimum upside potential can dictate a 1.7 R/R.
INMD
INMD: CUP AND HANDLE PLAYNice cup and handle on INMD .
(I'm not looking at fundamentals here, just technicals.)
What's a cup and handle?
A cup and handle is a technical chart pattern that resembles a cup and handle where the cup is in the shape of a "u" and the handle has a slight downward drift.
A cup and handle is considered a bullish signal extending an uptrend, and is used to spot opportunities to go long. (Definition by Investopedia)
After confirming the cup n handle pattern and breaking the top of the handle, the price is now retesting the breakout point and forming a bull flag . Bull flag formations are found in stocks with strong uptrends and are considered good continuation patterns.
It is therefore a great level to buy with good risk vs reward.
Traders will want to buy the break of the flag with a stop loss below the breakout point.
Whatever the height of the cup is, add that height to the breakout point of the handle and you have your profit target (at around 109) .
Note that 100 could act as a psychological level/resistance.
Trade safe.
INMD: bearish wedge-de-yuck. target 80Title says it all: give it a week or two. opened this today with the dec 75 and nov 95 puts.
INMD ENTRYBuy-stop limit. Don't have time to enter details of fundamentals etc.
Not investment advice. Educational purposes only.
INMD Good Entry... INMD Inmode Ltd is an Israel-based company. It designs, develops, manufactures and commercializes energy-based, minimally-invasive surgical aesthetic and medical treatment solutions. The Company’s proprietary technologies are used by physicians to remodel subdermal adipose, or fatty, tissue in a variety of procedures including fat reduction with simultaneous skin tightening, face and body contouring and ablative skin rejuvenation treatments...
Tech that might help with those Covid lbs...
Medical Devices group looking good ...
Only concern is the lack of volume but some leaders have been breaking out on less than average volume for example, check out my NET Cloudflare entry.
IBD #1 in its group
Composite Rating 99
EPS Rating 98
RS Rating 96
Group RS Rating A-
SMR Rating A
Acc/Dis Rating A-
Entry: 93.6 Stop 85.73 1R 7.61 Target 3R 116.43
Earnings due 8/5/21 Good space to run up to earnings report.
1R 7.61
Not trading advice. Educational purposes. Do your own due diligence.
