Lion Biotechnologies Inc (NASDAQ: LBIO)

Lion Biotechnologies, Inc., a clinical-stage biopharmaceutical company, focuses on developing and commercializing cancer immunotherapy products to harness the power of a patient’s immune system to eradicate cancer cells. The company’s lead product includes LN-144, an adoptive cell therapy using tumor-infiltrating lymphocytes (TIL), which are T cells derived from patients tumors for the treatment of patients with refractory metastatic melanoma. It has a patent license agreement with the National Institutes of Health to develop, manufacture, and commercialize TIL therapies for the treatment of cervical, head and neck, bladder, lung, ovarian cancer, breast cancer, and colorectal cancers, as well as melanoma; cooperative research and development agreement with the National Institutes of Health and the National Cancer Institute to develop adoptive cell immunotherapies that are designed to destroy metastatic melanoma cells using a patient’s tumor infiltrating lymphocytes; and manufacturing services agreement with Lonza Walkersville, Inc. to manufacture, package, ship, and perform quality assurance and quality control of TIL therapy.
Take a look at the 1-year chart of Lion (NASDAQ: LBIO) below with the added notations:

LBIO rallied off of its $5, November low making its way all the way up to a $15 high in March. In addition, over the last 6 months the $10 price level (blue) has become very important to the stock. Not only was $10 a key resistance in January and March, but that level has also been an important support since the end of March.

The Tale of the Tape: LBIO has a key level at $10. A trader could enter a long position on a break above $10 with a stop placed under the level. However, if traders are bearish on LBIO, a short trade could be made instead on a rally up to $10.
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