InterMune (NASDAQ:ITMN) shares have crossed bullishly above their 10-day moving average of $14.58 on a volume of 1.5 million shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.
InterMune, Inc. is a biopharmaceutical company. The Company develops therapies for hepatology and pulmonology, including treatments for severe, malignant osteopetrosis and chronic granulomatous disease
InterMune has overhead space with shares priced $14.76, or 45.2% below the average consensus analyst price target of $26.92. The stock should run into initial resistance at its 50-day moving average (MA) of $15.52 and subsequent resistance at its 200-day MA of $27.04.
In the past 52 weeks, InterMune share prices have been bracketed by a low of $10.67 and a high of $51.71 and are now at $14.76, 38% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.5% while the 200-day MA has slid 1.8%.
