INBS pumped on earnings crush= Watching for LONG maybe
INBS crush earnings and went parabolic on an earnings beat. Basically, revenues fell but with
belt-tightening and good CEO actions it bled less cash than expected. The tourniquet is
working. The post-earnings pump was followed by a flush to the mid-Fib 0.5 support. Trader's
got their reward and called it a weekend before lunch. The chop index fell into the
consolidation zone and the MACD turned bearish. See the 5 minute chart image inserted to
the left. The RSI lines are about 50 maybe with a crossdown impending. I have this on watch
for a reversal up. Much will depend on general market strength on Monday. Biotechnology
is projected as a hot sector now. This stock was among the hottest of the day. Hoping for
a bullish continuation knowing that a trend down is likewise possible.
belt-tightening and good CEO actions it bled less cash than expected. The tourniquet is
working. The post-earnings pump was followed by a flush to the mid-Fib 0.5 support. Trader's
got their reward and called it a weekend before lunch. The chop index fell into the
consolidation zone and the MACD turned bearish. See the 5 minute chart image inserted to
the left. The RSI lines are about 50 maybe with a crossdown impending. I have this on watch
for a reversal up. Much will depend on general market strength on Monday. Biotechnology
is projected as a hot sector now. This stock was among the hottest of the day. Hoping for
a bullish continuation knowing that a trend down is likewise possible.