Biotechnology sector sometimes gives good situation. The stock grew in one day without news on a very strong volume. Someone knows more than we do. Stop is almost a dollar, but it can bring much more profit. It is necessary to warn that the stocks of biotechnology carry higher risks
IMGN forming some upward momentum. Just had EMA 9 & 5 positive crossover. Also good positive money-flow divergence.
We think it will go higher form here.
You can check our detailed analysis on IMGN in the trading room/ Executive summery link here-
Time Span: 15:20"
Though it bounced from PP level which may discourage short sellers to take the bet, still the bearish pattern is valid and could give you 20% downside opportunity with tight stop loss at recent swing high. If you want a real time alerts try us www.2waytrading.com
Immunogen (IMGN) is experiencing a 5 year uptrend which consists of annual peaks and valleys occuring at regular intervals.
I have observed bullish ralleys occuring from November - July, noted by green arrows and the length of the rally below.
From July - October the bears take over and push it down to a higher low.
the net effect of these interchanging bull and...