Allergan put on a nice move over the last two days on news that Carl Icahn was in the stock with David Tepper. A big volume surge of 10 million shares over two days suggests more than a passing interest in this stock.
As pharmaceutical stocks seem to be enjoying renewed attention, this particular gain is big. This stock showed up on Thursday in the big movers on the home page. I covered off the home page idea generator on The Final Bar 2018-06-08 and specifically mentioned Allergan. You can see that video below.
I host a new TV show on StockCharts.com called The Final Bar. It airs Thursdays at 5 PM ET and is repeated throughout the week on StockCharts TV. You can also catch it on my Vimeo channel or on the StockCharts.com YouTube Channel. Here is Thursday's copy. I focused on Consumer discretionary stocks.
For Canadian investors, I discuss a lot of the variables ($SPX at resistance, Fed meeting, Options expiration etc. ) on the Canadian Technician video recorded earlier this week.
Have a great weekend and good trading,
Greg Schnell, CMT, MFTA
Senior Technical Analyst, StockCharts.com