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Interwoven (IWOV – 25-3/16) is soaring higher today, already gaining more than 26 percent in trading so far. This sudden burst of strength comes after analysts at a brokerage firm picked up IWOV, and started the company with a "strong buy" rating.
The stock gapped three points at the opening bell and continues to climb. Unfortunately, the stock may find resistance waiting for it in the form of its descending 10-day moving average, which sits just above the 26 level. Since slipping below this trendline on February 1, the stock has been on a steady decline over the past weeks, unable to overcome resistance created by the moving average.