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Durect(DRRX - Get Report) is a specialty pharmaceutical company focused on the development of pharmaceutical products based on its drug delivery technology platforms. This stock is trading up 3.9% to $1.05 in recent trading.
Today's Range: $1.03-$1.08
52-Week Range: $0.68-$1.90
Three-Month Average Volume: 451,715
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From a technical perspective, DRRX is moving notably higher here with light volume. This move is coming after DRRX recently bounced off its 200-day at 92 cents, and recaptured its 50-day at $1.00.
Traders should now look for long-biased trades in DRRX as long as it's trending above its 200-day at 92 cents with strong upside volume flows. I would consider any upside volume day that registers near or above 451,715 shares as bullish. If DRRX can hold that trend, then this stock has a great chance of taking out its July high of $1.25 in the near future. Any high-volume move above $1.25 will give DRRX a great chance of trading up towards its next major overhead resistance at $1.90.