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Sucampo Pharmaceuticals(SCMP) is focused on the discovery, development and commercialization of drugs based on prostones to treat gastrointestinal, ophthalmologic, CNS, vascular and respiratory diseases as well as other potential therapeutic applications. This stock is trading up 5.5% to $5.10 in recent trading.
Today's Range: $4.80-$5.10
52-Week Range: $2.96-$8.50
Three-Month Average Volume: 60,960
From a technical perspective, SCMP is soaring back above its 50-day moving average of $4.93 here with light volume. This stock has been on fire since the start of August, with shares trending higher from $3.78 to its current price of $5.10.
Traders should now look for long-biased trades in SCMP as long as it's trending above some near-term support at $4.50 with strong upside volume flows, or as long as its trending above its 50-day. I would consider any upside volume day that registers near or above 60,960 shares as bullish. If SCMP can hold those levels and continue to push higher, then this stock will setup to trigger a major breakout trade. That trade will hit once SCMP takes out its 200-day moving average of $5.95 with high volume. Any high-volume move over $5.95 will setup SCMP to re-fill its previous gap down. If SCMP gets into that gap, then this stock could easily tag $7 in the near future.
To see more stocks under $10 that are making notable moves higher today, check out the
Stocks Under $10 Moving Higher portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.