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Acadia Healthcare(ACHC - Get Report) is a provider of inpatient behavioral health care services in the U.S. This stock is trading up 6.6% at $16.63 in recent trading.
Today's Volume: 2.4 million
Average Volume: 73,607
Volume % Change: 7301%
Shares of ACHC are ripping higher today after the company announced the pricing of a registered follow-on offering of 8.25 million shares of its common stock at a public offering price of $15.50 per share.
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From a technical perspective, ACHC is bouncing right off its 50-day moving average of $15.80 here with monster volume. This move is pushing ACHC within range of triggering a major breakout trade to new
52-week highs. That trade will hit once ACHC takes out some near-term overhead resistance at $18 with high-volume.
Traders should now look for long-biased trades if ACHC can sustain a move or close above $18 with volume that's near or well above 73,607 shares.