Inogen Inc (NASDAQ: INGN)

Inogen, Inc., a medical technology company, primarily develops, manufactures, and markets portable oxygen concentrators for patients, physicians and other clinicians, and third-party payors in the United States and internationally.

Take a look at the 1-year chart of Inogen (NASDAQ: INGN) below with my added notations:

1-year chart of Inogen (NASDAQ: INGN)

During the past two months, INGN has formed a key level of resistance to watch at the $150 (red) mark. The stock tested that $150 mark again about this week. A close above that $150 level should lead to higher prices.

The Tale of the Tape: INGN has a key level of resistance at $150. A long trade could be entered on a break through that level. However, if you are bearish on the stock, a short trade could be made on any rallies up to $150.

Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Making these decisions ahead of time will help you decide which side of the trade you believe gives you the best opportunities.

No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital preservation is always key!

Good luck!
Christian Tharp, CMT