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Todays Big Stock Wealthpop News

This Stock Has Already Skyrocketed ⎯ Is There More Gas In The Tank?


If you remember our trade idea we posted all the way back yesterday, then you’ll find that this latest Daily Smart Report trade setup looks awfully familiar. This makes this next setup a great opportunity to not only practice your charting and finding key levels, but it will also help you with execution on a trade setup you’re already familiar with.

Insmed (INSM) is a global biopharmaceutical company, which engages in the development and commercialization of therapies for patients with rare diseases. This stock is among those in play as recently the company recently announced their trial of bronchiectasis treatment achieved some key endpoints, sending the stock soaring recently.

Whether or not this hype in the research breakthrough will be short lived is still up in the air, however, this piece of news means that there should be more eyes on this stock, and ultimately, this setup.

Right now, we have a key level of support at 24 and resistance at 26. If either of these levels break in a major way, then we will look to follow the price action. At this point, given the news, there should be a little more room to the upside. But as is often the case with these biotech pops, keep an eye on a pullback as a large move has already taken place and the big players could be looking to take profits soon. Keep this trade high on your watchlist. Which ever direction the move comes, it should be a lucrative one.

Learn even more about my trading strategy when you join The Profit Machine. There, I’ll teach you all about my favorite stocks, setups, strategies, and plenty more to make sure you can take your own trading to the next level. You’ll also be invited to weekly webinars where I answer questions and go over important trading lessons, like the one in today’s article. The best part, you’ll also receive live trade alerts. Not only will you get a world-class education, but you’ll earn while you learn.

This year is drawing to a close, make sure you’re turning the corner on your trading to position yourself to win all 2024. Sign up today! Until then…

Good Luck With Your Trading!

Christian Tharp, CMT

Christian Tharp

I am an expert stock market coach having helped over 4000 beginner and advanced traders & investors from around the world take control of their financial futures. I also write stock market related articles for the Adam Mesh Trading Group. My Chartered Market Technician (CMT) designation substantiates me as an expert in areas such as the technical analysis of stock trends, market indicators, cycles, price patterns, Elliot Wave principles, Candlestick charting, analyzing financial trends and behaviors, portfolio strategies, and forecasting future price movements. With my straightforward approach to simple, systematic trading, students learn how to strategically assess buy signals and market entry timing, establishment and management of stop losses, and how to employ a simple and disciplined trading approach that creates profits.

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