Insmed (INSM) - Breakout Opportunity 📌 Insmed ( NASDAQ:INSM ) – Breakout Opportunity
Insmed is a clinical-stage biopharmaceutical company focused on serious and rare lung diseases. The stock more than doubled in May 2024 following positive Phase 3 results for its drug Brensocatib. The FDA has granted Priority Review, with a PDUFA date set for August 12, 2025 — and commercial launch expected in H2 2025.
Technical Overview:
Since the massive gap up in May 2024, INSM has been trading inside a well-defined horizontal channel between:
🔻 Support: $61.65
🔺 Resistance: $84.82
Currently, price is near the upper third of the range (~$79.92), showing signs of renewed momentum with rising volume and RSI trending higher.
Plan
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📍 Entry: Daily close above $85 with strong volume ( >2.5M )
Targets
🎯 Target 1: $94 (+11%)
🎯 Target 2: $106 (+25%)
🛑 Stop: $82 (-4.7%)
Risk ratio:
🟠 Target 1: > 2:1
🟢 Target 2: > 5:1
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📊 Key Indicators to Watch:
✅ RSI > 60 with upward slope
✅ MACD bullish crossover
✅ Break above 20-day EMA with volume
✅ Volume expansion on green candles
⚠️ This content is for informational and educational purposes only and does not constitute investment advice ⚠️