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Registered User
Joined: 3/16/2005
Posts: 36
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Highly speculative stock and one that I've been watching for the last 6 months... Appears after some distribution, BOP is now looking positive. Indicators also appear to be cooperating. My intention is to initiate for a long position, however hestitant in the current market conditions. Any thoughts, maybe ripe for a quick trade...
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Registered User
Joined: 5/17/2005
Posts: 221
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winston ..seems like I have been looking at this stock before as I have some support lines drawn on the chart at around 1.92. I did not buy as I am mainly into resource and tech sector right now. However looking at the chart it seems like the stock is off to test it's highs of 3.15. I do not see any over head resistance until this level . As with most biotech companies this one does not make any money. This would be a short term trade .. may be even a day trade. I htink that the recent price action has been insitutional buying as this is stock is owned 38% by institutions and there is no other news driving the price. If this is the case a first target would be resistance at 3.14 as the institutions may stop buying at this level.
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Registered User
Joined: 3/16/2005
Posts: 36
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Thanks Malcolmb.
By the way, INSM broke out today. I jumped out this one way too early! I guess its better to take the profit and re-enter if warranted.
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