Epizyme (EPZM - Get Report), a clinical-stage biopharmaceutical company, engages in the discovery, development, planning and commercialization of various personalized therapeutics for the treatment of patients with genetically defined cancers. This stock closed up 8.9% at $40.41 in Friday's trading session.
Friday's Volume: 731,000
Three-Month Average Volume: 341,694
Volume % Change: 105%
From a technical perspective, EPZM spiked sharply higher here right above some near-term support at $35 with above-average volume. This stock recently gapped up sharply higher from around $20 to $37.69 with monster upside volume. Shares of EZPM are now quickly moving within range of triggering a big breakout trade. That trade will hit if EPZM manages to take out Fridays high of $41.23 to some more key overhead resistance levels at $42 to $42.71 with high volume.
Traders should now look for long-biased trades in EPZM as long as it's trending above Fridays low of $36.55 or above $35 and then once it sustains a move or close above those breakout levels with volume that's near or above 341,694 shares. If that breakout triggers soon, then EPZM will set up to re-test or possibly take out its all-time high at $45.72. Any high-volume move above that level will then give EPZM a change to tag $50 to $55.
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-- Written by Roberto Pedone in Delafield, Wis.