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iBio(IBIO - Get Report) is a biotechnology company focused on commercializing its technology, the iBioLaunch platform, for the production of biologics, including vaccines and therapeutic proteins. This stock closed up 5.6% to $1.13 in recent trading.
Thursday's Range: $1.08-$1.14
52-Week Range: $0.65-$2.30
Three-Month Average Volume: 269,706
From a technical perspective, IBIO just bounced hard right off its 200-day moving average of $1.06 with light volume. This move also pushed IBIO right into its 50-day moving average at $1.13.
Traders should now look for long-biased trades in IBIO as long as it's trending above $1.06 to $1.13, and then once it sustains a move or close above some near-term breakout levels at $1.24 to $1.36 with high volume. Look for volume on that move that registers near or above its three-month average action of 269,706 shares. If IBIO clears those levels soon, then this stock will setup to re-test or possibly take out its next major overhead resistance levels at $1.70 to $1.95. Any high-volume move above $1.95 would put $2.30 to $3 into focus for IBIO.