Long Position on INMD @ $37.50 on 4/25/2023 (Momentum)

InMode Ltd. (INMD) designs, develops, manufactures, and markets minimally invasive aesthetic medical products based on its proprietary radiofrequency assisted lipolysis and deep subdermal fractional radiofrequency technologies in the United States and internationally. 

The company offers minimally invasive aesthetic medical products for various procedures, such as liposuction with simultaneous skin tightening, body and face contouring, and ablative skin rejuvenation treatments, as well as for use in women's health conditions and procedures.

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, as well as hands-free medical aesthetic products that target a range of procedures, such as skin tightening, fat reduction, and muscle stimulation. 

Shares have formed a bullish "cup and handle" and are expected to move higher from this formation. The company reports May 2nd.

Entry Point: $37.50

Stop Loss: $34.00

Trading Range: $20.60 to $41.84

target Price: $42.00

Updates

5/2/2023 1:28:45 PM

INMD hit stop loss. Closed at $34.00

Position closed on 5/2/2023 at price of $34.00 with a -9.33% loss in 7 days.

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