Isis Pharmaceuticals Finally Breaks Out

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The markets appear back in rally mode over the last couple weeks.

With that, the biotech industry has performed very well. The iShares Biotechnology ETF IBB hit a new all-time high Tuesday and is continuing higher. Many individual biotech stocks made big moves, as well.

One in particular was Isis Pharmaceuticals.

The company: Isis Pharmaceuticals, Inc.

Ticker Symbol: ISIS

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Sector: Healthcare

Industry: Biotechnology

The company is engaged in the discovery and development of antisense drugs using novel drug discovery platform.

Related Link: The Biotech Stock With The Best One-Week Performance

The company’s flagship product includes the KYNAMRO injection, which is a synthesis inhibitor for patients with homozygous familial hypercholesterolemia; and for the reduction of low-density lipoprotein cholesterol.

Take a look at the one-year chart of Isis with added notations:

Like most biotech stocks, Isis hit a rough patch back in March, April and May. The stock's decline finally ended near $22.

Since that time, Isis has grinded overall higher. On three separate occasions since April, the stock has hit the $37.50 level as resistance.

Isis popped Tuesday through that resistance, and the stock did it on a large volume spike. This should signal higher overall prices for Isis. It closed Tuesday at $40.01.

No matter a trader's strategy, it's important to use protective stops and be around for the next trade. Capital preservation is always key.

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Posted In: Long IdeasShort IdeasHealth CareTechnicalsTrading IdeasGeneralIsis Pharmaceuticals
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