ImmunoGen (IMGN) is focused on the development of antibody-based anticancer therapeutics. This stock is trading up 3.6% at $14.35 in recent trading.
Today's Volume: 1.1 millionAverage Volume: 816,362 Volume % Change: 125% Shares of IMGN are trending higher today after partner Roche Holding AG said its experimental breast cancer drug significantly extended the lives of patients when compared with standard therapy. From a technical perspective, IMGN is bouncing hard and gapping higher here right off its 200-day moving average of $13.63 with heavy volume. This move has briefly pushed IMGN above its 50-day moving average of $15.25. At last check, IMGN has hit an intraday high of $15.50 but subsequently pulled back to its current price at around $14.35. Traders should now look for long-biased trades in IMGN as long as it's trending above its 50-day at $15.25 with strong upside volume flows. I would consider any upside volume day that registers near or above 816,362 shares as bullish If IMGN can hold a trend above its 50-day, then this stock has a great chance of re-testing and possibly taking out its next major overhead resistance levels at $16.36 to $18.10.
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