Dec. 9 at 12:49 AM
Actionable Trade Alert for
$INSP:
Market Context:
$INSP is currently experiencing high momentum with a last close at
$142.53. The RSI of 86.37 indicates it is overbought, suggesting potential for a pullback. However, the stock is also near its 60D high of
$144.25, which could act as a resistance level.
Directional Bias: The strong RSI and proximity to the 60D high suggest a bullish sentiment, but caution is warranted due to overbought conditions. The MA30 (98.74) and MA50 (90.32) are significantly lower, indicating a strong upward trend in the longer term.
Trade Plan:
- Suggested Entry:
$142.53
- Stop Loss:
$135.62 (approx. 5% below entry)
- Take Profit Targets:
1.
$146.00 (2% gain)
2.
$150.00 (5% gain)
3.
$166.00 (16.5% gain)
The third target provides over 17% ROI, capitalizing on the potential breakout above the recent high. Monitor RSI closely for signs of reversal.
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