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Abiomed is a top 5 SP 500 gainer today.  The stock is up 3.6% as it extends the gain off the March lows to 70%.  As the week comes to an end ABMD is trading at new 2020 highs after moving past heavy resistance near the $199.00 area.   This key zone has capped both the February and April highs.  Both of these highs were put in following Q3 and Q4 earnings reports.  More on Abiomed’s latest results here: https://seekingalpha.com/news/3567073-abiomed-jumps-15-after-fq4-results-ease-fears?mod=mw_quote_news.  

ABMD is one to watch next week.  We believe today’s breakout could spark quite a run.  This move has left behind layers of support.  A clear take out of $188.00 would violate this week’s lows indicating this breakout has failed.  

No position.