The Technical Take: GW Pharmaceuticals Higher After Q4 Report

GW Pharmaceuticals PLC- ADR GWPH shares are trading higher by $5.00 at $117.32 in Monday's session.

The catalyst for the rally is a Q4 earnings beat. The company also announced positive Phase 3 Trial data for a few different drugs in the pipeline.

Despite the EPS beat, the issue opened lower, but immediately found support at $110.00 and began to move higher. It has continued to make new highs for the session, with current one standing at $117.70.

If the rally continues, the next daily resistance level comes in at November 29 high ($118.81).