Long Position on INMD @ $31.00 on 10/31/2019 (Momentum)

InMode Ltd. (INMD) designs, develops, manufactures, and markets minimally-invasive aesthetic medical products based on its proprietary radio frequency assisted lipolysis and deep subdermal fractional radio frequency technologies.

The company offers minimally-invasive aesthetic medical products for procedures, such as liposuction with simultaneous skin tightening, body and face contouring, and ablative skin rejuvenation treatments.

It also designs, develops, manufactures, and markets non-invasive medical aesthetic products that target an array of procedures, including permanent hair reduction, facial skin rejuvenation, wrinkle reduction, cellulite treatment, skin appearance and texture, and superficial benign vascular and pigmented lesions.

InMode Ltd. offers its products directly in the United States, Canada, the United Kingdom, Spain, and India, as well as indirectly through third-party distributors internationally. 

On August 13th, Inmode (INMD) reported Quarter June 2019 earnings of $0.45 per share on revenue of $38.8 million. That pushed shares of this IPO into a bullish "cup and handle formation." Higher share prices are expected for this stock. The company reports November 7th.

Entry Point: $31.00

Stop Loss: $29.50

Trading Range: $13.06 - $32.50

Target Price: $34.10

Updates

11/5/2019 9:32:01 AM

INMD closed at $41.00

Position closed on 11/5/2019 at price of $41.00 with a 32.26% gain in 5 days.

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