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TheStreet Open House

8 Stocks Ripping Higher on Big Volume

Amarin

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Amarin (AMRN) is a late-stage biopharmaceutical company with expertise in lipid science focused on the treatment of cardiovascular disease. This stock is trading up 3.6% at $14.98 in recent trading.

Today's Volume: 5.3 million

Average Volume: 4.5 million

Volume % Change: 104%

Shares of AMRN are spiking higher as traders jump into the stock ahead of its highly anticipated date with the FDA on Thursday July 26. Amarin will go in front of the FDA for approval of its prescription fish-oil pill AMR101 for the treatment of patients with very high levels of triglycerides.

>>Hot Biotech Stocks Traded by Hedge Funds

From a technical perspective, AMRN is ripping higher here with above average volume. This move is quickly pushing AMRN within range of triggering a near-term breakout trade. That trade will hit once AMRN takes out some near-term overhead resistance at $15.40 with high-volume.

Traders should look for long-biased if AMRN can sustain a move or close over $15.40 with volume that's near or above 4.5 million shares. At last check, AMRN has hit an intraday high of $15.15 and volume is well above its three-month average action. If we get that breakout soon, then AMRN could trade up towards $20 ahead of its FDA event.

Amarin was also featured recently in " 5 Big Stocks Ready to Slingshot Higher."

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