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Furiex Pharmaceuticals(FURX) is a drug development collaboration company. Furiex's product pipeline includes two marketed products and three programs in development, including late-stage compounds, in multiple therapeutic areas. This stock is trading up 2.9% at $20.39 in recent trading.
Today's Volume: 149,000
Average Volume: 85,138
Volume % Change: 84%
Shares of FURX are ripping higher today ahead of the company's earnings report, which is set for Thursday after the market close.
From a technical perspective, FURX has started to move back above its 50-day moving average of $19.83 here with above average volume.
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Traders should continue to look for long-biased trades in FURX ahead of its earnings report as long as it's trading above $19.83 with strong volume. I would consider any upside volume day that registers near or above 85,138 shares as bullish. After earnings, I would look for long-biased trades in FURX if it can manage to trigger a major
That trade will hit once FURX takes out some near-term overheard resistance at $22.47 with high volume. Look for a sustained move or close above $22.47 or Thursday's high (if it's greater) with volume that's near or above 85,138 shares. If we get that action, then look for FURX to hit $25 or higher post-earnings.