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.
Comment:
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.