ImmunoGen, Inc., a biotechnology company, develops targeted
anticancer therapeutics. The company develops its products using its
targeted antibody payload technology. It offers Kadcyla, an
antibody-drug conjugate for the treatment of HER2-positive metastatic
breast cancer. The company's clinical-stage anticancer compounds include
IMGN901, which is in Phase II clinical trials for the treatment of
small-cell lung cancer; IMGN853 that is in Phase I clinical trials for
ovarian cancer and non-small cell lung cancer; IMGN289, which is in
active investigational new drug application stage for the treatment of
head and neck cancer, and non-small cell lung cancer; and IMGN529 that
is in Phase I clinical trials for non-Hodgkin lymphoma. It also develops
compounds, such as SAR3419, which is in Phase II clinical trials to
diffuse large B-cell lymphoma and B-cell acute lymphoblastic leukemia;
SAR566658 that is in Phase I clinical trials for solid tumors;
SAR650984, which is in Phase I clinical trials for multiple myeloma; AMG
172 that is in Phase I clinical trials for kidney cancer; AMG 595,
which is in Phase I clinical trials for glioblastoma; BAY 94-9343, that
is in Phase I clinical trials for mesothelioma and ovarian cancer; and
BT-062, which is in Phase I clinical trials for multiple myeloma. The
company has collaborations with Sanofi; Amgen; Bayer HealthCare; Biotest
AG; Eli Lilly and Company; Roche; and Novartis Institutes for
BioMedical Research, Inc.
IMGN has formed a head and shoulders (H&S) pattern. Please take a look at the 1-year chart of IMGN (ImmunoGen, Inc.) below with my added notations:
Over the last (5) months IMGN has created a key level of support at
$15. That $15 support is also the current “neckline” for IMGN's H&S
pattern. Above the neckline you will notice the H&S pattern itself
(blue). Remember, patterns such as an H&S need to confirm to have
the meaning that they imply. Confirmation of the H&S would occur if
the stock were to break below its $15 support. If IMGN does break that
level, the stock should move lower from there.
The Tale of the Tape: IMGN seems to have formed a head & shoulders pattern. Although a trader could go long at $15 expecting a bounce, the stock's pattern implies an eventual breakdown. If that happens, a short trade should be entered on a break of the $15 level.
Please share this article
IMGN has formed a head and shoulders (H&S) pattern. Please take a look at the 1-year chart of IMGN (ImmunoGen, Inc.) below with my added notations:
Over the last (5) months IMGN has created a key level of support at
$15. That $15 support is also the current “neckline” for IMGN's H&S
pattern. Above the neckline you will notice the H&S pattern itself
(blue). Remember, patterns such as an H&S need to confirm to have
the meaning that they imply. Confirmation of the H&S would occur if
the stock were to break below its $15 support. If IMGN does break that
level, the stock should move lower from there.The Tale of the Tape: IMGN seems to have formed a head & shoulders pattern. Although a trader could go long at $15 expecting a bounce, the stock's pattern implies an eventual breakdown. If that happens, a short trade should be entered on a break of the $15 level.
No comments:
Post a Comment