Trade Idea: INBX (Inhibrx) - Breakout Play 📈 Ticker: INBX (Nasdaq)
💰 Entry: $19.80 (breakout zone)
🛑 Stop Loss: $14.22 (below key support)
🎯 Take Profit: $39.59 (measured move + Fib extension)
🔢 Risk/Reward Ratio: 2.8:1
🔍 Technical Setup
✅ Trend: Strong daily uptrend (higher highs & higher lows).
✅ Breakout Level: $19.80 (previous resistance, now support).
✅ RSI (14): Neutral (~60), no overbought signal.
✅ Volume: Increasing on upward moves (bullish confirmation).
✅ MACD: Bullish crossover in daily timeframe.
🎯 Why This Trade?
1️⃣ Breakout Confirmation: Price has cleared resistance at $19.80, signaling potential continuation.
2️⃣ Strong Upside Target: $39.59 aligns with:
1.618 Fibonacci extension from recent swing.
Measured move from consolidation range.
3️⃣ Low-Risk Entry: Tight stop below $14.22 (swing low + psychological level).
⚠️ Risk Management
Stop Loss: $14.22 (28% below entry).
Position Size: Risk only 1-2% of capital per trade.
Trailing Stop: Consider moving SL to breakeven if price reaches $25.00.
📅 Timeframe & Strategy
⏳ Holding Period: 3-6 months (position trading).
📊 Ideal Scenario:
INBX holds above $19.80 and continues uptrend.
Volume supports bullish momentum.
❌ Invalidation Criteria
If price closes below $14.22, exit trade (failed breakout).
Watch for bearish RSI divergence or breakdown below $19.80.
📌 Final Thoughts
INBX shows strong technicals for a long-term breakout play. The 2.8:1 reward/risk ratio makes this an attractive swing trade.
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(Disclaimer: Not financial advice. Do your own research before trading.)
