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Jazz Pharmaceuticals (
JAZZ) is a specialty pharmaceutical company focused on developing and commercializing innovative products to meet unmet medical needs in neurology and psychiatry. This stock closed up 2.4% at $83.60 in Wednesday's trading session.
Wednesday's Volume: 1.29 million
Three-Month Average Volume: 898,052
Volume % Change: 50%
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From a technical perspective, JAZZ bounced higher here right above some near-term support at $80 with decent upside volume. This move pushed shares of JAZZ into breakout and new 52-week high territory, since the stock took out some near-term overhead resistance at $83.06. At last check, JAZZ hit an intraday high of $85.08 and volume was notably above its three-month average action of 898,052 shares.
Traders should now look for long-biased trades in JAZZ as long as it's trending above Wednesday's low of $81.50 or above $80 and then once it sustains a move or close above its new 52-week high at $85.08 with volume that's near or above 898,052 shares. If we get that move soon, then JAZZ will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $90 to $100.
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