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.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.