(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 8.8% to $2.47 in recent trading.
Today's Range: $2.40-$2.67
52-Week Range: $0.93-$3.06
Volume: 5.02 million
Three-Month Average Volume: 1.28 million
From a technical perspective, ACAD is ripping higher here with monster upside volume. This move is quickly pushing ACAD within range of triggering a major breakout trade. That trade will hit once ACAD manages to take out some near-term overhead resistance levels at $2.64 to $2.80 with high volume. At last check, ACAD has hit an intraday high of $2.67 and volume is well above its three-month average action of 1.28 million shares.
Traders should now look for long-biased trades in ACAD as long as it's trending above its 50-day at $2.27, and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.28 million shares. If that breakout triggers soon, then look for ACAD to re-test or possibly take out its next major overhead resistance levels at $3.06 to $3.30.
To see more stocks that are making notable moves higher today, check out the
Stocks Under $10 Moving Higher
portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.
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