IMGN - A clear breakout play. You had to have been watching it early on, though, the earliest to  watch was back on Dec 30 when it traded nearly 16 Million shares in a day.The second most it had traded in a year. 

Yesterday it broke the resistance it had built up for the past two months and traded over 2.75. This area had been tested 3 times in the past two months, so any higher low made over that price would be a good sign to get long. 

Today on Tuesday, I expected it to sell off at the open for sellers to take some profits and hopefully bounce back and make a R/G move.

Thats exactly what it did after finding support at 3.15 and trading around its opening price and yesterdays HOD before running for .40 cent profits. 

Sold off into the close but found support again near its previous day highs and todays opening price. 

I'm keeping this on watch but waiting to see it can trade above 3.50 and hold to make a higher low.

 

 

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