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Arca Biopharma(ABIO) is a biopharmaceutical company whose principal focus is developing genetically-targeted therapies for heart failure and other cardiovascular diseases. This stock is trading up 7.4 % to $0.58 in recent trading.
Today's Range: $0.54-$0.58
52-Week Range: $0.37-$2.45
Three-Month Average Volume: 80,881
From a technical perspective, ABIO is ripping to the upside here with decent volume, and the stock is quickly moving within range of triggering a major breakout trade. That trade will trigger once ABIO takes out some near-term overhead resistance at 61 cents with high volume.
Traders should now look for long-biased trades once ABIO sustains a move or close over 61 cents with volume that's near or above 80,881 shares. If we get that action soon, then ABIO could potentially skyrocket back towards its next major overhead resistance level at 83 cents, or possibly even its 200-day moving average of 90 cents. Traders should use the 50-day moving average of 49 cents to key off of for major near-term support for ABIO.
To see more stocks under-$10 that are making notable moves higher today, check out the
Stocks Under-$10 Moving Higher portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.