GenMark Diagnostics ( GNMK), a molecular diagnostics company, develops and commercializes its proprietary eSensor detection technology. This stock closed up 5.7% to $12.70 in Wednesday's trading session.
Wednesday's Volume: 970,000
Three-Month Average Volume: 335,302
Volume % Change: 332%
Three-Month Average Volume: 743,305
Volume % Change: 335% From a technical perspective, PCYC spiked higher here right off some near-term support at $115 with strong upside volume. This move briefly pushed shares of PCYC back above its 50-day moving average of $124.61, before the stock finished the day just below that level at $123.82. Market players should now look for a continuation move higher in the short-term if PCYC can manage to take out Wednesday's intraday high of $129.45 to more resistance at $130 with high volume. Traders should now look for long-biased trades in PCYC as long as it's trending above $120 or above Wednesday's low of $115 and then once it sustains a move or close above $129.45 to $130 with volume that hits near or above 743,305 shares. If we get that move soon, then PCYC will set up to re-test or possibly take out its next major overhead resistance levels at $136 to its 52-week high at $143.34. Any high-volume moves above its 52-week high will then give PCYC a chance to tag $150.