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Infinity Pharmaceuticals(INFI - Get Report), a drug discovery and development company, focuses on discovering, developing and delivering medicines to patients for diseases with significant unmet need. This stock is trading up 11.7% at $21.32 in recent trading.
Today's Volume: 438,000
Average Volume: 313,931
Volume % Change: 129%
>>4 Biotech Stocks Under $10 Moving Higher
From a technical perspective, INFI is skyrocketing here with
above-average volume. This move has pushed INFI into breakout territory, since the stock has taken out some near-term overhead resistance levels at $18.37 to $18.53.
Traders should now look for long-biased trades in INFI off of weakness, as long as it continues to trend above $18.37 to $18.53 with strong upside volume flows. I would consider any upside volume day that registers near or above 313,931 shares. It's never a great idea to chase a stock up as much as INFI is right now, so look to get long off weakness. If INFI can hold this trend, then the stock has a great chance of hitting $25 or higher in the near future.