Swing Trading Strategies & Stock Picks Since 2003

Stock Pick of the Day

Facet Biotech Group)

Closing Price: $27.01

RSI: 87.68

MACD: 0.88

Abbott Laboratories ) entered into an agreement with Facet Biotech Corp. (NASDAQ:  FACT) for acquisition of Facet Biotech Corp. (FACT), to enhance Abbott Laboratories’ (ABT) early and mid-stage pharmaceutical pipeline. Abbott Laboratories (ABT) will acquire Facet Biotech Corp. (FACT) for $27 per share in cash for a net transaction value of approximately $450 million as per the deal. The stock closed near the day’s high at $27.01.

Facet Biotech Corp. (FACT) vaulted 65% with high volumes in the session on Wednesday following the premium buyout. The stock breached convincingly above its 20 day MA, 50 MA and 200 day MA in a single session following the M&A deal between two pharma sector companies. However, it would be a better idea to book profit now, as Facet Biotech (FACT) has already breached buyout value.