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BioScrip(BIOS - Get Report) is a national provider of pharmacy and home health services. BioScrip's primary business and operations include pharmacy benefit management services. This stock is trading up 5% to $7.70 in recent trading.
Today's Range: $7.32-$7.80
52-Week Range: $5.00-$7.88
Three-Month Average Volume: 297,874
From a technical perspective, BIOS has been uptrending very strong since February, with this stock consistently making higher lows and higher highs, which is bullish technical price action. During that uptrend, BIOS has never once violated its 50-day moving average as the stock has marched higher from $5.75 to its current price around $7.70. That move has now put BIOS within range of triggering a near-term breakout trade. That trade will hit once BIOS takes out some near-term overhead resistance at $7.88 with high-volume.
Traders should now look for long-biased trades off a sustained move or close over $7.88 with volume that's near or above 297,874 shares. If we get that action soon, then BIOS has a great chance of re-testing its 2010 high of $9.84.