IBRX stock was one of the stocks we talked about today. Unfortunately, I said I wanted to see it close above 944 today. It reached 10.09. And where did he close? At exactly 9.44.
So, during the day it looked as though we had witnessed a breakout, which could prompt more short sellers to cover their positions, thus stimulating more buyers, and as the number of buyers increases, the stock continues to rise.
This leads to selling pressure. We saw a reversal today, and the stock returned to 9.44. It will be interesting to follow the stock's performance tomorrow. If it manages to rise and break above the $10 level, I think this type of stock could reach $12, $ 14 or $16 very quickly given the volume of short selling .
However, failure to achieve a breakout may indicate that the stock has reached its peak price. Therefore, this is a very important pivotal area on the IBRX stock chart.