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Amag Pharmaceuticals(AMAG) is a biopharmaceutical company focused on the development and commercialization of a therapeutic iron compound to treat iron deficiency anemia (IDA). This stock is trading up 4.3% at $15.93 in recent trading.
Today's Volume: 148,000
Average Volume: 113,246
Volume % Change: 159%
Shares of AMAG are moving sharply higher today after the company announced a positive CHMP opinion for the approval of ferumoxytol in Europe for the treatment of iron deficiency anemia in adult patients with chronic kidney disease.
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From a technical perspective, AMAG is bouncing hard of some previous support levels near $15 to $15.15 today with above average volume. This move is pushing the stock within range of both its 200-day and 50-day moving averages.
Traders should now look for long-biased trades if AMAG can manage to sustain a move or close above its 200-day at $15.99 and its 50-day at $16.05 with high-volume. Look for volume that's near or well above 113,246 shares. If we get that action soon, look for AMAG to make a run at $17 to $18 in the near-term.