ImmunoGen, Inc. (NASDAQ:IMGN)
Long term IMGN investor, thinking that we will be seeing lots of new highs after a breakout. Any thoughts on a sell point?
After having had IMGN in an Uptrend since October of last year, we briefly called a Downtrend back on June 18th when it started to dip lower. But a few days later our indicators came back from oversold and we issued an Uptrend again on 6/28 at $8.32 and we still have Immunogen in that Uptrend. The $9 level has been tough to break through but our indicators are not yet overbought (trendline is right around $9.20). You have to go back to late 2004 to find any sort of other resistance at the $11 level which could be a first target. But given the double in the stock since March of this year, you want to be cautious for a possible pullback in near term.
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