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Orexigen Therapeutics(OREX - Get Report)
This company is a biopharmaceutical company focused on the development of pharmaceutical product candidates for the treatment of obesity. This stock is trading up 10.4% at $2.32 in recent trading.
Friday's Range: $2.08 to $2.34
52-week Range: $1.22 to $10.08
Three-Month Average Volume: 480,087
From a technical standpoint, OREX is surging higher Friday on monster volume and the stock is quickly approaching some key breakout levels. Traders should now watch OREX to trigger a breakout if this stock can manage to clear some overhead resistance at $2.34 with volume. A sustained high-volume move or close above $2.34 should set this stock up to retest its next significant overhead resistance level at $2.68. Any high-volume move over $2.68 should be considered extremely bullish, since it would give OREX a chance to challenge a gap down from last June that started at $3.45.