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.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts