Here are the two group charts to which Part I of this evening's report referred.
Note the change in character with the bios. Choppiness and a downtrend since early spring have yielded to a sharp uptrend.
Iovance Biotherapeutics (IOVA) is a development-stage biotech outfit. A 98 RS stock in an 81 RS group with an A- acc/dis rating.
Following a May-July move of over 150%, price settled into a well-formed and orderly, four-month cup-with-low-handle. The 34% depth of the cup is reasonable after such a major gain. The handle depth is 10%. The stock can be taken above the handle high of 24.19.
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Unless otherwise noted, charts created using TradeStation. ©TradeStation Technologies, 2001-2019. All rights reserved.
The views contained herein represent those of Marder Investment Advisors Corp. At the time of this writing, of the stocks mentioned in this report, Marder Investment Advisors Corp., Kevin Marder, or an affiliate thereof held no positions, though positions are subject to change at any time and without notice. Estimate data provided by Thomson Reuters. Expected earnings release dates provided by EarningsWhispers.