Million

Resistance

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Immunovant stock price closed at $39.96, gaining 97.04% during the last intraday session.</a> </li> 
 <li> <span>2</span> <a>IMVT Stock doubled after IMVT-1402 showed a reduced Immunoglobulin G in a phase 1 trial with only mild or moderate adverse events.</a> </li> 
 <li> <span>3</span> <a>The year-to-date return of Immunovant stock is 119.68%.</a> </li> 
</ul> 
<p>The stock price of Immunovant (IMVT) almost doubled on 26 September, rising from the support level of $20 and forming an annual high of $47.72. The drug developer shares doubled after the early-stage data from its experimental antibody treatment exceeded analyst expectations.&nbsp;</p> 
<p>The stock price hit a high of more than two and half years and is set to add nearly $3 Billion to its market capitalization, if it can hold the gains.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="582" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-890-1024x582.png" alt="" class="wp-image-171635" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-890-1024x582.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-890-300x171.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-890-768x437.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-890-750x427.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-890-1140x648.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-890.png 1419w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: IMVT Stock Price By <a href="https://www.tradingview.com/x/r1KZJ9v6/" rel="noopener noreferrer nofollow">TradingView</a>. 
  </figcaption> 
 </figure> 
</div> 
<p>IMVT stock has surged significantly and is at a significant psychological level of $50. If the next candle breaks the high of the last candle and bullish momentum persists, IMVT stock price will rise toward $50 and potentially break it.&nbsp;</p> 
<p>On the other hand, if bullish momentum fades away and the Immunovant Inc. stock price enters a corrective phase, it might melt to form strong support at $35. However, the upward move is pretty strong, and the bullish move might continue till $50.&nbsp;&nbsp;&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-why-did-immuvovant-stock-pop-strong"><strong>Why Did Immuvovant Stock Pop?</strong></h2> 
<p>The <a href="https://www.thecoinrepublic.com/2023/09/20/pfizer-stock-price-has-potential-to-reach-75-suggests-analysts/" target="_blank" rel="noopener noreferrer nofollow">drug developer</a> is developing its antibody drug, IMVT-1402, as an under-the-skin injection to treat autoimmune diseases potentially. The early data hit a “home run” scenario, and J.P. Morgan analyst, Brian Cheng, stated that it supports the drug’s potential to be the best in its class if it succeeds in the upcoming studies.&nbsp;</p> 
<p>IMVT-1402 will be used to treat autoimmune diseases that work on the tail region of an antibody and help activate the immune system. IMVT-1402 experimental drug reduced the level of immunoglobin G (IgG) antibodies, which caused inflammation and disease in healthy adults.&nbsp;</p> 
<p>A higher dose part of study data is expected in November, which could make Immunovant a potential takeout for the acquirers of large pharma.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-will-imvt-stock-price-touch-50-level-strong"><strong>Will IMVT Stock Price Touch $50 Level?</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="583" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-889-1024x583.png" alt="" class="wp-image-171634" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-889-1024x583.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-889-300x171.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-889-768x437.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-889-750x427.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-889-1140x649.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-889.png 1418w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: IMVT Stock Price By <a href="https://www.tradingview.com/x/5jd5p4bZ/%5C" rel="noopener noreferrer nofollow">TradingView</a>. 
  </figcaption> 
 </figure> 
</div> 
<p>The stock price has surged above 20, 50, 100, and 200-day exponential moving averages, suggesting bullish solid momentum. The relative strength index has entered into an overbought zone and stands at 84,88, indicating a chance of short-term pullback.&nbsp;</p> 
<p>Traders should wait for the price to retrace to form support and then break the formed support for the bearish opportunity. The Chaikin money flow score is 0.40, suggesting muscular strength in the price.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion&nbsp;</strong></h4> 
<p>Immunovant has also announced the commencement of a proposed underwritten public offering and concurrent private placement of $300 Million of its shares. The market structure and price action are strongly bullish, but traders should be cautious as RSI has entered an overbought zone and might face pressure from bears.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support levels:&nbsp; $25 and $20&nbsp;</p> 
<p>Resistance levels: $50 and $60</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Immunovant (IMVT) Stock: Doubles in A Single Day; $50 Possible?

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