Replies to post #2541 on Insmed Inc (INSM)

[ToysInTheAttic]

Not a TA expert but fwiw...
I am not convinced weve broken the downtrend until the 1.13 is tested again and we could very well see it played by the pro's to test a buck. Last Sept-Nov saw a nice base built and IMHO will be our ceiling until we stablize with
1. sales growth and market share reports
2. litigation success and/or
3. volume capitulation.

I would love to be convinced that 7/5 was the capitulation because I want to add more...though I'm now averaging down. First shot of good news and I beleive we'll head straight up to the 20 DMA as we have done before(around $1.43 now).

I am very greatful that I was on vacation last week so I didn't have a meltdown. Thank you to all who have posted here since with some very somber,sober and realistic insight regarding recent events.

Long and glta
S

[rebelst]

Based on yesterday's price action, today's supports are at $1.24 and $1.15. We've already blown thru $1.24, so we could test $1.15. Of course if we blow thru $1.15 then we're in for more pain... INSM currently has no positive technical indicators, everything points to continuation of downtrend. Hopefully we get some useful updates from Young (like initial shipment/sales figures, sales expansion plans, etc.), rather than the usual corporate BS.