Is iova will go up today?
7/15/2024 05:37pm
**Iovance Biotherapeutics (IOVA) is likely to face downward pressure today**, considering the following points:
1. **Short Interest Increase**: The short interest in IOVA has increased by 9.3% from May 31st to June 15th, indicating potential bearish sentiment among investors.
2. **Recent Analyst Ratings**: The consensus rating for IOVA is "Moderate Buy" with an average price target of $24.45. However, the specific analyst rating from HC Wainwright and JMP Securities is "Buy" with a price target of $32.00 and $23.00, respectively.
3. **Market Performance**: IOVA's stock has experienced a 9.4% increase on the previous trading day, which could lead to a potential pullback or consolidation on the following trading day.
4. **Technical Indicators**: The stock's RSI is at 77.48, which is considered overbought and could suggest a potential pullback or consolidation.
In conclusion, while there is a positive long-term outlook for IOVA, with an average price target indicating significant upside potential, the current technical indicators and recent short interest increase suggest caution for the immediate trading day.