Significance of possible trend change for INMD to 32+

- INMD did breakout but fell hard and got rejected at the double bottom neckline 35
- With most pennant breakouts, failures will likely return to the medium of the pennant ==> which is around 34
- Significance is 34 is also the MA5/MA20/MA50 level on Daily Chart
- And on the 30mins chart, it is also the same neckline of the possible head and shoulder formation with a breakdown at 34 towards 32.
- As long as it does not break below 32.65, a higher low will still be formed which means the bullish trend is still intact

My watches/Plays
- Looking for the right shoulder to form on the 30mins chart
- Coincide with a breakdown below neckline of 34
- Will sell more puts IF it hits the bottom of the pennant
- If above all plays out, remain bullish and will retain my sold puts
- Will maintain my short calls too until start of gap fill

Am still slightly bullish on INMD as the drop was mainly due to the debt ceiling uncertainties.

Good luck, all!