Strategy used: Short into Major daily resistance 

 

$IMMU

 

float: 100million

 

Key points of resistance

 

52wk resistance $7.15

 

3 year resistance $6.90 $7.35

 

Gap up from 5.42 previous day close so much spiking in one day considering the float & major resistance for over 5years above odds of a fade are in your favor short into spike risking off 7.15 even if it b/o 7.15 more resistance above for more security. Great odds play considering how much it already ran in one day . Short entry into 6.90 or even the bounce again to 6.90 knowing the overall picture how much it came up the odds of it having strength for a 52 wk that day is low. 

 

Why is it up? 

Immunomedics Shares Jump After License Pact with Seattle Genetics Is Terminated

 

 

https://www.thestreet.com/story/14121015/1/biotech-movers-immunomedics-shares-jump-after-license-pact-with-seattle-genetics-is-terminated.html?puc=yahoo&cm_ven=YAHOO&yptr=yahoo