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Synergy Pharmaceuticals(SGYP), a development stage biopharmaceutical company, engages in the development of drugs to treat gastrointestinal disorders and diseases in the U.S. This stock is trading up 6.8% to $5.18 in recent trading.
Today's Range: $4.75-$5.24
52-Week Range: $1.86-$7.08
Three-Month Average Volume: 314,102
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From a technical perspective, SGYP is ripping higher here right off some near-term support at $4.75 with monster volume. This move has also pushed SGYP into breakout territory, since the stock has moved above some near-term overhead resistance at $4.84.
Traders should now look for long-biased trades off the next major breakout for SGYP. That breakout will trigger once this stock takes out $5.20 with high volume. Look for a sustained move or close above that level with volume that's near or above 314,102 shares. At last check, SGYP has hit an intraday high of $5.24 and volume is well above 314,102 shares. If SGYP can hold a trend above $5.20, then this stock has a great chance of trading higher towards $6 to $7 in the near future.