Deep pullback and possibly a harmonic pattern called a Cypher if price does not go down past the .786. For now price stopped at the .786 of XC and turned back up. But I am not sure that this may not be a shark which would take the final leg down further than the .786. The shark is labeled 0XABC, and the final leg (BC) is measured from the impulse leg, or 0X. Peak 2 is higher than peak one in both the shark and the cypher. The cypher's final leg is the .786 of the entire structure, or the .786 of XC.
The Cypher does have a rule for the 2nd leg retracement, and must fall between the .382 and .618. The shark has no rules for the 2nd leg retracement other than it can not go beyond point 0. Since the 2nd leg retracement for INSP falls to the .618 on the dot, it rules neither pattern out. If peak 2 were lower, and not higher than peak 1, this could be a Gartley, but that is not the case. The Gartley also has the 2nd retracement leg at the .618.
The 20 is crossing down through the 50 SMA which is considered a bearish crossover. After a pull back, I do like to see the 20 cross UP through the 50 to enter Long.
Keeping my eye on this one. INSP is known to be volatile.
No recommendation.
What Is the Money Flow Index (MFI)?
The Money Flow Index (MFI) is a technical oscillator that uses price and volume data for identifying overbought or oversold signals in an asset. It can also be used to spot divergences which warn of a trend change in price. The oscillator moves between 0 and 100.
Unlike conventional oscillators such as the Relative Strength Index (RSI), the Money Flow Index incorporates both price and volume data, as opposed to just price. For this reason, some analysts call MFI the volume-weighted RSI.
The Cypher does have a rule for the 2nd leg retracement, and must fall between the .382 and .618. The shark has no rules for the 2nd leg retracement other than it can not go beyond point 0. Since the 2nd leg retracement for INSP falls to the .618 on the dot, it rules neither pattern out. If peak 2 were lower, and not higher than peak 1, this could be a Gartley, but that is not the case. The Gartley also has the 2nd retracement leg at the .618.
The 20 is crossing down through the 50 SMA which is considered a bearish crossover. After a pull back, I do like to see the 20 cross UP through the 50 to enter Long.
Keeping my eye on this one. INSP is known to be volatile.
No recommendation.
What Is the Money Flow Index (MFI)?
The Money Flow Index (MFI) is a technical oscillator that uses price and volume data for identifying overbought or oversold signals in an asset. It can also be used to spot divergences which warn of a trend change in price. The oscillator moves between 0 and 100.
Unlike conventional oscillators such as the Relative Strength Index (RSI), the Money Flow Index incorporates both price and volume data, as opposed to just price. For this reason, some analysts call MFI the volume-weighted RSI.
Comment:
This is a stock I buy over and over, and I swing trade it. I could be sorry this time around and this stock is very volatile. It reminds me of DECK, LULU etc. Just FYI, it is not a FUN stock to trade sometimes. It can move 10 to 20 bucks in one day! And hanging can be hard on the soul.