Normal
The move ended up stalling right at $12.50, but since the stock is trading at all-time-highs it isn’t profit-taking at a nice round number.What was interesting was that buyers stepped in to support $ILU right around the previous highs at $11.85, and if it can continue to hold above this level it might be an indication that today’s news could help sustain the uptrend.Of course, all trading carries risk, and a break below this level might open the possibility for a deeper pullback on further profit taking.[ATTACH=full]139946[/ATTACH]
The move ended up stalling right at $12.50, but since the stock is trading at all-time-highs it isn’t profit-taking at a nice round number.
What was interesting was that buyers stepped in to support $ILU right around the previous highs at $11.85, and if it can continue to hold above this level it might be an indication that today’s news could help sustain the uptrend.
Of course, all trading carries risk, and a break below this level might open the possibility for a deeper pullback on further profit taking.
[ATTACH=full]139946[/ATTACH]
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