INMODE LTD (INMD.OQ)

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Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s, select commodities, cryptocurrencies and global equity indices. Below chart is from the watchlist section of the weekly report. It is featuring a trading opportunity on the price chart of Inmode Ltd.

INMODE LTD (INMD.OQ)

Inmode Ltd is an Israel-based global provider of energy-based, minimally-invasive surgical medical treatment solutions. The stock is listed on the Nasdaq Stock Exchange. Price chart formed a 5 month-long cup & handle continuation with the horizontal boundary acting as strong resistance at 39.00 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 40.15 levels will confirm the breakout from the 5 month-long cup & handle continuation with the possible chart pattern price target of 50.75 levels.

An educational video on Cup & Handle continuation chart pattern

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