Impax Laboratories (IPXL) is a specialty pharmaceutical company. Impax Laboratories is engaged in development, manufacture and marketing of bio-equivalent pharmaceutical products, referred to as generics, in addition to the development of branded products. This stock is trading up 1.7% at $23.03 in recent trading.
Today's Volume: 592,000Average Volume: 490,700 Volume % Change: 103% From a technical perspective, IPXL is moving modestly higher here with above average volume. This move is a continuation pattern of momentum buying after IPXL recently took out both its 50-day and 200-day moving average s with volume. This move is also pushing IPXL within range of triggering a near-term breakout trade. That trade will hit once IPXL takes out some near-term overhead resistance at $23.23 with high volume. Traders should now look for long-baized trades once IPXL sustains a move or close above $23.23 with volume that's near or above 490,700 shares. If that breakout triggers soon, then look for IPXL to re-test and possibly take out its April high of $25.36. Traders should key off of $22.13 for near-term support.
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