Intermune Inc. (ITMN) All Set To Raise Resistance Level To $40

InterMune Inc. (NASDAQ: ITMN) confirmed yesterday evening that the FDA advisory committee had approved InterMune's (ITMN) Esbriet for idiopathic pulmonary fibrosis. After a move ahead of the approval in yesterday to a level beyond the congestion zone, Intermune Inc. (ITMN) advanced by another 66.2% by mid-day trading on Wednesday to $38.74.

Intermune Inc. (ITMN) hopes to gain from the FDA approval after the launch of its Esbriet for idispathic pulmonary fibrosis. The stock, already trading at its 52 week high, is now in a breakout zone, and Intermune Inc. (ITMN) could test resistance level of $40 in near future.