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TheStreet Open House

4 Biotech Stocks Spiking on Unusual Volume

Achillion Pharmaceuticals (ACHN)

This is a biopharmaceutical company which focuses on the discovery, development and commercialization of innovative treatments for infectious diseases. This stock is trading up 5.4% to $9.04 in recent trading.

Today's Range: $8.52-$9.05

52-Week Range: $5.42-$12.95

Volume: 701,000

Three-Month Average Volume: 987,190

From a technical perspective, ACHN is ripping higher here right above its 50-day moving average of $8.29 with decent volume. This move is quickly pushing shares of ACHN within range of triggering a near-term breakout trade. That trade will hit if ACHN manages to clear some near-term overhead resistance at $9.79 with high volume.

Traders should now look for long-biased trades in ACHN as long as it's trending above its 50-day at $8.29, and then once it sustains a move or close above $9.79 with volume that hits near or above 987,190 shares. If that breakout hits soon, then ACHN will set up to re-test or possibly take out its next major overhead resistance levels at $11 to $11.36.

Threshold Pharmaceuticals (THLD)

This is a biotechnology company focused on the discovery and development of drugs targeting the microenvironment of solid tumors as novel treatments for patients living with cancer. The stock is trading up 5.8% to $4.50 in recent trading.

Today's Range: $4.24-$4.58

52-Week Range: $1.27-$9.28

Volume: 884,000

Three-Month Average Volume: 942,030

From a technical perspective, THLD is bouncing higher here right off its 50-day moving average of $4.32 with decent volume. This stock has been trending sideways for the last two months, with shares moving between $3.94 on the downside and $5 on the upside. This move today is quickly pushing THLD within range of breaking out above the upper-end of its recent sideways trading pattern. That breakout will hit if THLD manages to take out some near-term overhead resistance levels at $4.58 to $5 with high volume.

Traders should now look for long-biased trades in THLD as long as it's trending above some key near-term support levels at $4.14 to $4.15, and then once it sustains a move or close above those breakout levels with volume that hits near or above 942,030 shares. If that breakout triggers soon, then THLD will set up to re-test or possibly take out its next major overhead resistance levels at $5.90 to its 200-day moving average at $6.37.

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