Today's Volume: 466,000
Average Volume: 276,189
Volume % Change: 210%
From a technical perspective, WX is spiking higher here and breaking out above some near-term overhead resistance at $18.79 with above-average volume. This stock has been uptrending for the last few weeks, with shares moving higher from its low of $17.05 to its intraday high of $19.10. During that move, shares of WX have been consistently making higher lows and higher highs, which is bullish technical price action. Now shares of WX are breaking out to a new 52-week high above $18.79.
Traders should now look for long-biased trades in WX as long as it's trending above today's low of $18.52 and then once it sustains a move or close above $18.79 to $19.10 with volume that hits near or above 276,189 shares. If WX can maintain this move, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $22 to $23.
Valeant PharmaceuticalsValeant Pharmaceuticals ( VRX) is a specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products, primarily in the areas of neurology, dermatology and branded generics. This stock is trading up 3.8% at $75.99 in recent trading. Today's Volume: 2.52 million
Average Volume: 1.32 million
Volume % Change: 208% From a technical perspective, VRX is gapping higher here right above some near-term support at $72.73 with above-average volume. This stock has been uptrending strong for the last six months, with shares soaring higher from its low of $52.52 to its recent high of $76.56. During that move, shares of VRX have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of VRX within range of triggering a near-term breakout trade. That trade will hit if VRX manages to take out some near-term overhead resistance levels at $75.61 to $76.56 with high volume. Traders should now look for long-biased trades in VRX as long as it's trending above today's low of $74.32 or above $72.73 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.32 million shares. If VRX triggers that breakout, then this stock will set up to enter new 52-week-high territory above $76.56, which is bullish technical price action. Some possible upside targets off that breakout are $80 to $82.
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