Key Technical Levels Boost La Jolla Pharmaceutical 18% Higher
La Jolla Pharmaceutical (NASDAQ: LJPC) jumped following a heavy technical level.
Since early June, the stock price traded in a slightly horizontal range from $9.06 to $9.20, followed by a short dip to $8.23 reversing to $9.01. During its short recovery, the price completely dismissed its expected retracement back to the $9.20 range, surging upward Friday afternoon.
The stock was last trading at $10.65, up 18.9 percent.
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