Viropharma (VPHM - Get Report) is engaged in the development and commercialization of products that address diseases, with a focus on products used by physician specialists or in hospital settings. This stock is trading up 6.4% at $30 in recent trading.
Today's Volume: 2.1 millionAverage Volume: 1.1 million Volume % Change: 178% Shares of Viropharma are soaring today after the FDA announced it will allow them and Halozyme Therapeutics (HALO) to resume clinical trials of a joint product they're developing. From a technical perspective, VPHM is gapping up sharply here with heavy volume. This move has managed to push VPHM into breakout territory, since the stock has cleared some near-term overhead resistance at $28.49. Traders should look to get long VPHM as long as it's trending above today's low of $29.03 and then once it sustains a move or close above $31.13 with volume that's near or above 1.1 million shares. If that breakout triggers soon, then VPHM will have a great chance of re-testing or possibly taking out its next major overhead resistance level at $33.17. Any high-volume move over $33.17 should be considered bullish action, since it will push VPHM into new 52-week high territory. To see more stocks rising on unusual volume, check out the Stocks Rising On Unusual Volume portfolio on Stockpickr. -- Written by Roberto Pedone in Winderemere, Fla.
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