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Technical Check: Interactive Brokers Group at $34

Interactive Brokers Group Inc. (IBKR) is trying to hold above an important psychological barrier at $34. It’s only the second time in its history trading as a public company, the first being the period from mid-January and early February, that the options broker has flirted with this price level. For obvious reasons, this technical area is significant because it marks the high point of its initial public offering that took place on May 7 last year. Though the stock is lower today by 2.1% to $34.12 - earlier selling off by as much as 5% to hit an intra-day low of $33.30, only a third of the daily average volume has traded and the weakness is market oriented. Interactive still looks well positioned to challenge and break above its 52-week high of $35.93 in the coming weeks.

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