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>>2 Health Care Stocks Rising on Big Volume
From a technical perspective, ABIO jumped higher here right above some near-term support at $1.34 and back above its 50-day moving average at $1.44 with above-average volume. This stock has been trending sideways for the last month and change, with shares moving between $1.25 on the downside and $1.52 on the upside. Shares of ABIO are now starting to trend within range of triggering a near-term breakout trade above the upper-end of its sideways trading pattern. That breakout will hit if ABIO manages to take out $1.52 to $1.67 with high volume.
Traders should now look for long-biased trades in ABIO as long as it's trending above some near-term support levels at $1.34 or at $1.25 and then once it sustains a move or close above those breakout levels with volume that hits near or above 308.252 shares. If that breakout hits soon, then ABIO will set up to re-fill some of its previous gap down zone from April that started near $2.75.