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Discovery Laboratories(DSCO - Get Report) is a biotechnology company developing surfactant therapies to treat respiratory disorders and diseases. This stock is trading up 10.5% to $3.10 in recent trading.
Today's Range: $2.84-$3.17
52-Week Range: $1.44-$5.39
Volume: 2.6 million
Three-Month Average Volume: 528,784
>>5 Stocks Poised for Breakouts
From a technical perspective, DSCO is ripping higher here with monster volume. This move has pushed DSCO into breakout territory, since the stock has cleared some near-term overhead resistance levels at $2.78 to $2.90.
Traders should now look for long-biased trades off the next major breakout for DSCO. That breakout will trigger once DSCO sustains a move or close above $3.15 with high volume. At last check DSCO has hit an intraday high of $3.17 and volume is well above its three-month average of 528,784 shares. Traders can look to get long DSCO off weakness as long as it holds today's low of $2.84. If that breakout triggers soon, then look for DSCO to re-fill a previous gap and trend higher towards $3.50 to $3.73, or possibly even $5 in the near future.