INSMED INC (NASDAQ:INSM) Reveals Intriguing Technical Aspects. Here's What You Need to Know.

Our stockscreener has identified a possible breakout setup on INSMED INC (NASDAQ:INSM). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NASDAQ:INSM for potential opportunities.

Analyzing the Technical Aspects

ChartMill utilizes a proprietary algorithm to assign a Technical Rating to every stock. This rating, ranging from 0 to 10, is computed daily by analyzing a variety of technical indicators and properties.

Overall INSM gets a technical rating of 7 out of 10. In the last year, INSM was one of the better performers, but we do observe some doubts in the very recent evolution.

• The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
• Looking at the yearly performance, INSM did better than 94% of all other stocks.
• INSM is part of the Biotechnology industry. There are 607 other stocks in this industry. INSM outperforms 90% of them.
• INSM is currently trading in the upper part of its 52 week range. The market is still in the middle of its 52 week range, so INSM slightly outperforms the market at the moment.
• In the last month INSM has a been trading in the 23.92 - 26.75 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.

Check the latest full technical report of INSM for a complete technical analysis.

Why is NASDAQ:INSM a setup?

ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NASDAQ:INSM scores a 9 out of 10:

Besides having an excellent technical rating, INSM also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. There is a support zone below the current price at 24.48, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Trading breakout setups.

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

More breakout setups can be found in our Breakout screener.

Disclaimer

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.