We've chosen to take a look at XOMA because today's bullish price action created a fresh 52-week high and has sent the price of the company's shares above the February swing-high of $3.50. As you can see from the chart below, the 161.8% Fibonacci extension level is the next area of resistance and many technical traders may use this as a signal of a continued move higher until the price nears $3.92. XOMA shares have risen more than 100% over the past few months and it will be interesting to see if the bulls can keep the momentum going or if it will pullback and test the new short-term support near $3.50.
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