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Ariad Pharmaceuticals (
ARIA) is engaged in the discovery and development of breakthrough medicines to treat cancers by regulating cell signaling with small molecules. This stock closed up 7.1% at $19.29 in Monday's trading session.
Monday's Volume: 4.15 million
Three-Month Average Volume: 2.28 million
Volume % Change: 87%
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From a technical perspective, ARIA soared sharply higher here back above its 50-day moving average of $18.61 with above-average volume. This stock recently saw its downside volatility stop, after shares fell from $21.30 to its low of $16.95. As ARIA has come out of that recent downtrend, shares of rebounded sharply with bullish upside volume flows. This stock is now quickly moving within range of triggering a near-term breakout trade. That trade will hit if ARIA manages to take out its 200-day moving average at $19.37 and then once it takes out more resistance at $20.03 with high volume.
Traders should now look for long-biased trades in ARIA as long as it's trending above its 50-day at $18.61 or above Monday's low of $18.01 and then once it sustains a move or close above those breakout levels with volume that's near or above 2.28 million shares. If that breakout triggers soon, then ARIA will set up to re-test or possibly take out its next major overhead resistance levels at $21.30 to $22.49. Any high-volume move above those levels will then put $24 into range for shares of ARIA.