Immunomedics (IMMU) is a biopharmaceutical company primarily focused on the development of monoclonal antibody-based products for the targeted treatment of cancer, autoimmune and other serious diseases. This stock is trading up 4.4% at $3.51 in recent trading.
Today's Range: $3.42-$3.6552-Week Range: $2.85-$4.27 Volume: 403,000 Three-Month Average Volume: 278,730 Shares of IMMU are soaring today after the company said that their scientists have published an article in the current issue of the journal, PLoS One, describing their collaboration in the design and testing of a new class of drugs that significantly destroyed the AIDS virus, HIV, and may potentially eradicate the virus completely. >>Hot Biotech Stocks Traded by Hedge Funds From a technical perspective, IMMU is soaring here back above its 200-day at $3.45 and its 50-day moving averageat $3.47 with heavy volume. This stock has also briefly flirted with a near-term breakout today, since shares have challenged some overhead resistance at $3.60. At last check, IMMU has hit an intraday high of $3.65 and volume is well above its three-month average action of 278,730 shares. Traders should now look for long-biased trades as long as IMMU is trending above $3.60 to $3.76 with strong upside volume flows. I would consider any upside volume day that registers near or above 278,730 shares as bullish. If we get that action for IMMU, then I expect this stock to re-test and possibly take out $4 to $4.45 in the near future.
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