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Acorda Therapeutics(ACOR - Get Report) is a commercial-stage biopharmaceutical company. Acorda Therapeutics is engaged in the identification, development and commercialization of novel therapies that improve neurological function in people with multiple sclerosis, spinal cord injury, and other disorders of the nervous system. This stock is trading up 2.7% at $22.32 in recent trading.
Today's Volume: 784,000
Average Volume: 326,581
Volume % Change: 304%
Shares of ACOR are moving modestly higher today despite the fact that the company said that a low dose of its multiple sclerosis treatment Ampyra didn't meet a study goal.
>>3 Biotech Stocks Surging Higher
From a technical perspective, ACOR is gapping up here with above average volume. This move is occurring near some previous support levels at $21.33 to $21.46.
Traders should now look for long-biased trades once ACOR clears today's high of $22.95, and then once it takes out both its 50-day at $23.72 and its 200-day at $24.28 with high volume. Look for a sustained move or close above those levels with volume that's near or above 326,581 shares. If we that action soon, then ACOR could re-test and possibly take out its next major overhead resistance levels at $26 to $26.65.