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Anthera Pharmaceuticals (
ANTH) is a biopharmaceutical company focused on developing and commercializing products to treat autoimmune diseases. This stock closed up 7.4% to $3.76 in Thursday's trading session.
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From a technical perspective, ANTH soared higher here back above its 50-day moving average of $3.67 with above-average volume. This move also pushed shares of ANTH into breakout territory, since the stock closed just above some near-term overhead resistance at $3.75.
Traders should now look for long-biased trades in ANTH as long as it's trending above its 50-day at $3.67 or above Thursday's low of $3.46 and then once it sustains a move or close above Thursday's high of $3.76 with volume that hits near or above 109,798 shares. If we get that move soon, then ANTH will set up to re-test or possibly take out its next major overhead resistance levels at $4.25 to $4.26. Any high-volume move above those levels will then give ANTH a chance to tag its next major overhead resistance levels at $4.49 to $4.60.