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Osiris Therapeutics (
OSIR) is a stem cell therapeutic company focused on developing and marketing products to treat medical conditions in the inflammatory, orthopedic and cardiovascular areas. This stock closed up 5.5% at $11.20 on Friday.
Friday's Volume: 246,000
Average Volume: 89,792
Volume % Change: 206%
>>5 Summer Buy Signals From the Health Care Sector
From a technical perspective, OSIR ripped higher here right off its 50-day moving average of $10.57 with above-average volume. This move also pushed shares of OSIR into breakout territory, since the stock took out some near-term overhead resistance at $10.90. Shares of OSIR are now quickly moving within range of triggering another key breakout trade. That trade will hit if OSIR manages to take out some near-term overhead resistance levels at $11.66 to its 52-week high at $11.94 with high volume.
Traders should now look for long-biased trades in OSIR as long as it's trending above Friday's low of $10.30 and then once it sustains a move or close above those breakout levels with volume that hits near or above 89,792 shares. If that breakout triggers soon, then OSIR will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are its next major overhead resistance levels at $14.46 to $18.
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