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Arca Biopharma(ABIO) is a biopharmaceutical company. Arca Biopharma's principal focus is developing genetically-targeted therapies for heart failure and other cardiovascular diseases. This stock is trading up 5.5% at 36 cents per share in recent trading.
Today's Range: $0.32-$0.36
52-Week Range: $0.31-$2.45
Three-Month Average Volume: 91,008
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From a technical perspective, ABIO is ripping to the upside here right off some near-term support at 31 cents per share with above average volume. This move has also pushed ABIO above some near-term overhead resistance at 35 cents per share.
Traders should now look for long-biased trades as long as ABIO is trending above 35 cents with strong upside volume flows. I would consider any upside volume day that registers near or above 91,008 shares as bullish. If ABIO can maintain that trend, then this stock has a great chance of re-testing and possibly taking out its next major overhead resistance levels at 40 cents to 47 cents per share.