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Look for Shares of Insmed Inc to Potentially Pullback after Yesterday's 99.84% Rise

By James Quinn

Insmed Inc (NASDAQ:INSM) traded in a range yesterday that spanned from a low of $24.00 to a high of $29.52. Yesterday, the shares gained 99.8%, which took the trading range above the 3-day high of $12.85 on volume of 17.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Insmed Inc has traded in a range of $9.02 to $29.52 and is now at $24.45, 171% above that low. Over the past week, the 200-day moving average (MA) has gone down 1.6% while the 50-day MA has declined 0.8%.

SmarTrend recommended that its subscribers protect gains by selling shares of Insmed Inc on August 2nd, 2017 by issuing a Downtrend alert when the shares were trading at $15.57. Since that call, shares of Insmed Inc have fallen 21.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders insmed inc

Ticker(s): INSM