INSP is a strong stock but has lost quite a bit of ground with the recent pull back/correction.
The top doesn't looks so good, but price has not fallen past the neckline in a downtrend as of yet. It may. I thought it was a goner, then had a small pull up. I realize securities on their was down will have buying at certain levels as folks are trying to get in at a bargain price.
The neckline is a very strong source of support and INSP has bounced off this level several times. The top is ugly but the neckline (which is also bottom trendline of the rectangle) has held except for an occasional candle shadow that dipped below.
I like this stock and plan to watch it. If it breaks the neckline with conviction, I may be bottom fishing before long )o:
No recommendation
Earnings are over. The top trendline of a rectangle is resistance and the bottom one is support. It is a horizontal consolidation pattern until a trendline is broken with conviction. A rectangle can also be a continuation pattern. You can measure width of the rectangle and project it up or down from the corresponding trendline to get a guesstimate.
One to watch if you are interested to see which pattern wins here..lol. Rectangles do usually break up or down eventually. Head and shoulders supposedly break to the downside, but in a strong stock and in a bull market, it does not always happen.
The top doesn't looks so good, but price has not fallen past the neckline in a downtrend as of yet. It may. I thought it was a goner, then had a small pull up. I realize securities on their was down will have buying at certain levels as folks are trying to get in at a bargain price.
The neckline is a very strong source of support and INSP has bounced off this level several times. The top is ugly but the neckline (which is also bottom trendline of the rectangle) has held except for an occasional candle shadow that dipped below.
I like this stock and plan to watch it. If it breaks the neckline with conviction, I may be bottom fishing before long )o:
No recommendation
Earnings are over. The top trendline of a rectangle is resistance and the bottom one is support. It is a horizontal consolidation pattern until a trendline is broken with conviction. A rectangle can also be a continuation pattern. You can measure width of the rectangle and project it up or down from the corresponding trendline to get a guesstimate.
One to watch if you are interested to see which pattern wins here..lol. Rectangles do usually break up or down eventually. Head and shoulders supposedly break to the downside, but in a strong stock and in a bull market, it does not always happen.
Comment:
OUCH! Glad I am only watching for now )o: