Long Position on NARI @ $87.00 on 1/4/2021 (Momentum)

Inari Medical, Inc. (NARI), a commercial-stage medical device company, focuses on developing products to treat and transform the lives of patients suffering from venous diseases in the United States.

It produces ClotTriever for treatment of deep vein thrombosis; and FlowTriever, a thrombectomy system for treatment of pulmonary embolism.

The company was formerly known as Inceptus Newco1 Inc. and changed its name to Inari Medical, Inc. in September 2013.

Inari Medical, Inc. reported 3rd Quarter September 2020 earnings of $0.12 per share on revenue of $38.7 million. The consensus estimate was a loss of $0.02 per share on revenue of $26.5 million.

This stock should continue to see a rise in share prices as it breaks out of it's "bullish cup and handle" formation.

Entry Point: $87.00 

Trading Range: $39.55 - $88.75

Stop Loss: $82.65

Target Price: $95.70

Updates

1/13/2021 3:22:48 PM

NARI closed at $97.

Position closed on 1/13/2021 at price of $97.00 with a 11.49% gain in 9 days.

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