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Acadia Pharmaceuticals(ACAD - Get Report) is in the business of development and commercialization of small molecule drugs for the treatment of central nervous system disorders. This stock is trading up 10.8% at $13.40 in recent trading.
Today's Volume: 6.39 million
Average Volume: 3.32 million
Volume % Change: 222%
>>5 Health Care Stocks Under $10 Ready to Rip Higher
From a technical perspective, ACAD is screaming higher here right off some near-term support at $11.81 with heavy upside volume. This move is quickly pushing shares of ACAD within range of triggering a major breakout trade. That trade will hit if ACAD manages to take out its 52-week high at $13.92 with high volume.
Traders should now look for long-biased trades in ACAD as long as it's trending above some near-term resistance levels at $13 or $12.50 and then once it sustains a move or close above its 52-week high at $13.92 with volume that hits near or above 3.32 million shares. If that breakout hits soon, then ACAD will set up to re-test or possibly take out its next major overhead resistance levels at $15 to $16.50.