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Questor Pharmaceuticals(QCOR), a biopharmaceutical company, provides prescription drugs for the treatment of auto-immune diseases. The stock is trading up 8% at $42.11 in recent trading.
Today's Volume: 2.4 million
Average Volume: 1.1 million
Volume % Change: 241%
Shares of QCOR are ripping higher today after the company announced sales of its H.P. Acthar Gel that exceeded analyst expectations. The company shipped 3,360 vial of the gel vs. 1,680 shipped in the fourth quarter of 2010.
From a technical standpoint, QCOR is starting to gap up big today back above its 50-day
moving average of $42.25 on heavy volume. Traders should now watch for a sustained move and close above $42.25 to signal that this stock wants to re-test some major overhead resistance at close to $46.
I would consider it a major breakout if QCOR can take out $46 with volume in the coming days or weeks.
Questcor shows up on recent lists of
3 Low-PEG, High-Momentum Stocks and
5 Drug Stock Winners of 2011.