Albany Molecular Research
Average Volume: 468,411
Volume % Change: 134% Shares of AMRI ripped higher on Wednesday after Sterne Agee re-initiated the stock with a buy rating and $15 price target. >>5 Stocks Set to Soar on Bullish Earnings From a technical perspective, AMRI skyrocketed higher here right above its 50-day moving average at $10.64 with heavy upside volume. This move has pushed shares of AMRI into breakout territory, since the stock took out some near-term overhead resistance levels at $11.47 to $11.86. Shares of AMRI are now quickly moving within range of triggering an even bigger breakout trade. That trade will hit if AMRI manages to take out Wednesday's high at $12.14 and then once it clears its 52-week high at $12.50 with high volume. Traders should now look for long-biased trades in AMRI as long as it's trending above either of those first-tier breakout levels at $11.86 or $11.47 and then once it sustains a move or close above $12.14 to $12.50 with volume that hits near or above 468,411 shares. If that breakout hits soon, then AMRI will set up to enter new 52-week-high territory above $12.50, which is bullish technical price action. Some possible upside targets off that breakout are $15 to $17.