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Prana Biotechnology(PRAN) is a development-stage company at an early stage in the development of its pharmaceutical products that are designed to treat the underlying causes of degeneration of the brain and the eye as the aging process progresses focusing on Alzheimer's disease and Huntington's and Parkinson's diseases. This stock is trading up 8.6% at $2.24 in recent trading.
Today's Range: $2.06-$2.39
52-Week Range: $1.40-$2.74
Three-Month Average Volume: 119,133
>>5 Oversold Stocks Ready to Bounce
From a technical perspective, PRAN is bouncing solidly to the upside here right off some near-term support at $2.04 with above-average volume. This move is coming after PRAN just sold off from its recent high of $2.74 to $2.04 in a few trading sessions.
Traders should now look for long-biased trades in PRAN once it manages to break out $2.40 with high volume. Look for a sustained move or close above $2.40 with volume that hits near or above 119,133 shares. If that breakout trigger soon, then look for PRAN to re-test or possibly take out that recent high of $2.74. Any high-volume move above $2.74 could see PRAN trade north of $3 in the near future.