This is a clinical-stage biopharmaceutical company focused on developing and commercializing small-molecule drugs for the treatment of cancer and immune mediated diseases. This stock is trading up 5.8% at $32.24 in recent trading.Today's Volume: 707,000 Average Volume: 645,466 Volume % Change: 50% From a technical perspective, PCYC is ripping higher here in a weak tape on above average volume. This move is coming off some near-term support at $30.06, and it's quickly pushing PCYC within range of a major breakout trade. That trade will hit once PCYC takes out some near-term overhead resistance at $33.24 with high-volume. Traders should now look for long-biased trades once PCYC sustains a move or close over $33.24 with volume that's near or above 645,466 shares. If we get that move soon, then look for PCYC to tag $37 to $40 in the near future. Keep in mind, that those targets will only have a chance of being hit if PCYC is trending above $33.24 with strong upside volume flows. To see more stocks rising on unusual volume, check out the Stocks Rising On Unusual Volume portfolio on Stockpickr. -- Written by Roberto Pedone in Winderemere, Fla.
Follow Stockpickr on Twitter and become a fan on Facebook. This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
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