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Vivus(VVUS - Get Report) is a biopharmaceutical company engaged in the development and commercialization of therapeutic products for large underserved markets. This stock is trading up 4.1% at $22.92 in recent trading.
Today's Volume: 2.3 million
Average Volume: 4.9 million
Volume % Change: 50%
>>5 Stock Under $10 Set to Soar
From a technical perspective, VVUS is bouncing hard to the upside here right around its 50-day moving average of $21.35 with decent volume. This move is quickly pushing VVUS within range of triggering a major breakout trade. That trade will hit once VVUS manages to take out some near-term overhead resistance at $24.86 with high volume.
Traders should now look for long-biased trades in VVUS as long as it's trending above its 50-day at $21.35, and then once it sustains a move or close above $24.86 with volume that hits near or above 4.9 million shares. If that breakout triggers soon, then VVUS has tremendous upside since its next major overhead resistance level sits at $29 to $31.21.