The biotechnology industry has grown by 7 percent in the past three months, and in an expanding economy, I would think that this industry has room to continue growing.
The S&P continues to grow, gaining 4 points (it is to note that this move was on lower than average ) at the time of writing this. 90 percent of the market saw new highs today, showing good sentiment. However, the possibility of interest rate hikes still looms over the market, as well as climbing oil prices and President Trumps proposed tax reforms.
ITUS has rebounded off support at the 2.50 level and could hit a target of 5.00. It currently sits at 3.33, 51 percent from its 52-week high. is increasing and is showing strength.
I am long, having entered at 2.75. Risk is controlled to 3 percent of my account, should the trade go the other way. With coming out, a good report could send the stock up to its target very quickly.
There is still a chance to jump in at 3.50 or better.