We looked at Insulet (PODD) a few weeks ago as it was a bit over bought and while it took a bit longer to correct than we expected, it did come down and provide some nice put trades. Since then it has found a bottom and is setting up another move. Take a look at the chart.

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The last drop may have actually been a bit oversold and this bouncing could be setting up another trade. It just pulled up above its 10 day moving average and is setting up a solid bullish MACD Crossover. If it continues above the 200 day it is a solid buy signal. With the movement we have seen lately the recent high may be optimistic but a climb to around 300 is doable.

This sets up a potential call trade with a 300 strike. When you can get the feel for a certain stock’s personality it can be a bit easier to spot moves like this early, We will keep an eye on it and see how it does,

Keep learning and trade wisely,

John Boyer


Market Wealth Daily