Allergan Broke Resistance

Published on Friday, 27 January 2012 06:28 Written by Danny Miller

New York, January 27th (TradersHuddle.com) - Shares of Allergan Inc. ( NYSE:AGN) closed the trading session at $88.97 just above calculated resistance at $88.81 effectively breaking out, grabbing the attention of momentum traders, which could eventually push the stock to different trading range

Allergan, Inc. ( NYSE:AGN) is a multi-specialty health care company that develops and commercializes pharmaceuticals, biologics and medical devices. The company develops products for the ophthalmic, neurological, medical aesthetics, breast aesthetics, obesity intervention, urological and other specialty markets in countries around the world.

Allergan's stock was trading in a well defined range with support at $78.42 and resistance at $88.81, given that this range was broken traders will be closely monitoring the stock