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Acadia Pharmaceuticals(ACAD - Get Report) is focused on the development and commercialization of small molecule drugs for the treatment of central nervous system disorders. This stock is trading up 9.4% to $2.38 in recent trading.
Today's Range: $2.19-$2.40
52-Week Range: $0.93-$3.06
Volume: 1 million
Three-Month Average Volume: 1.2 million
>>5 Stocks Under $10 Set to Soar
From a technical perspective, ACAD is bouncing strongly here right off its 50-day moving average of $2.21 with decent volume. This move is quickly pushing ACAD within range of triggering a near-term breakout trade. That trade will hit once ACAD manages to take out some near-term overhead resistance at $2.64 with high volume.
Traders should now look for long-biased trades in ACAD as long as its trending above its 50-day, and then once it sustains a move or close above $2.64 with volume that hits near or above 1,180,710 shares. If that breakout triggers soon, then look for ACAD to setup to re-test or take out its next major overhead resistance levels at $3.06 to $3.30. Any high-volume move above $3.30 could setup ACAD to trend north of $4.