With all the talk of a possible recession comes a lot of talk about recession-proof stocks.
What will hold up if the economy tanks?
And there are a few answers.
One of them is the Medical sector.
People don’t stop needing doctors and medicine just because inflation has gone up. The demand stays the same.
Which might be why the medical sector has been one of the top 40 sectors in the world lately.
People have been stocking up on stocks that might hold up during bad times.
And here’s one that looks ready for a possible breakout.
InMode Ltd. (INMD) went on a massive run back in 2021, going from $20 to $100. But it’s fallen back like everything else has during the Bear Market.
But lately INMD has been going sideways, building up energy (which we love to see).
Combine that sideways basing action with a sector that’s done well, and we have the recipe for a possible big mover:
A break above $41.84 could lead to an explosion.
Even if we see a recession.
Happy trading,
Scott
