Questcor Pharmaceuticals (QCOR), a biopharmaceutical company, provides prescription drugs for the treatment of multiple sclerosis, nephrotic syndrome, and infantile spasms indications. This stock is trading up 4.7% at $18.66 in recent trading.
Today's Volume: 5.7 millionAverage Volume: 5 million Volume % Change: 91% Shares of QCOR are trending higher today after the company initiated a quarterly cash dividend of 20 cents per share, and it increased its common stock repurchase program to 7 million shares. >>5 Biotech Stocks Poised for Breakouts From a technical perspective, QCOR is bouncing strongly here with above-average volume. This bounce is coming off extremely oversold conditions, since QCOR's relative strength index is currently at 23. Oversold can always get more oversold, but this stock has been annihilated the bears during the last few weeks, with shares plunging from over $52 to its recent low of $17.25. Traders should now look for long-biased trades in QCOR as long as it's trending above $17.25, and then once it triggers its next major breakout trade. Look for a sustained move or close above some near-term overhead resistance levels at $20.48 to $22.50 with volume that's near or above 5,034,740 shares. If that breakout triggers soon, then QCOR could easily fill its previous gap back towards $30 to $33. Keep in mind that in order for that gap to get filled, QCOR will need to see some very large upside volume move in soon. 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.
Twitter and become a fan on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV