INBS Trade IDEA Pretty simple R/R here about 55% return and a 10% loss. Ill add more closer to $1.45 if we get there with a stop at about $1.38. targeting 1.70 for 1st PT/$2.00 for 2nd PT / and leave runners for $2.50 while moving my stop up.
Trade ideas
INBS pumped on earnings crush= Watching for LONG maybeINBS 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.
Stock Opinion - INBSI am holding a few hundred bucks in INBS on the premise that the stock has a history of very good chart pattern moves to the upside. That said, I suspect it would take some solid corporate or product news to encourage the next move to the upside OR, a very clear and crisp moving average crossover. The potential upside value is too juicy for me not to park some money with it LOL. All in all I may be in for a long wait though.
