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Questcor Pharmaceuticals(QCOR) is a biopharmaceutical company, provides prescription drugs for the treatment of multiple sclerosis, nephrotic syndrome and infantile spasms indications. This stock is trading up 7% at $20.62 in recent trading.
Today's Volume: 4.6 million
Average Volume: 5.4 million
Volume % Change: 50%
From a technical perspective, QCOR is bouncing sharply higher here with decent volume, and it's started to move into breakout territory above some near-term overhead resistance at $20.40. Traders should now look for QCOR to trigger its next major breakout trade. That trade will hit once QCOR manages to take out its gap down day high from two weeks ago at $22.75 with high volume.
Traders should look for long-biased trades in QCOR as long as it's trending above $20.40, and then once it sustains a move or close above $22.75 with volume that hits near or above 5,371,110 shares. If that breakout triggers soon, then QCOR will have an excellent chance to re-fill some of its gap and possibly hit $30 to $33 in the near future.
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.