Alder Biopharmaceuticals (ALDR), a clinical-stage biopharmaceutical company, discovers, develops and commercializes various therapeutic antibodies in the U.S. and Australia. This stock closed up 4% at $18.71 in Friday's trading session.
Friday's Volume: 1.15 million
Three-Month Average Volume: 238,442
Volume % Change: 1293%
From a technical perspective, ALDR ripped higher here right above some near-term support at $16.76 with monster upside volume. This sharp spike higher on Friday is quickly pushing shares of ALDR within range of triggering a near-term breakout trade. That trade will hit if ALDR manages to take out some key near-term overhead resistance levels at $19.50 to just above $20 with high volume.
Traders should now look for long-biased trades in ALDR as long as it's trending above support at $16.76 and then once it sustains a move or close above those breakout levels with volume that hits near or above 238,442 shares. If that breakout gets underway soon, then ALDR will set up to re-test or possibly take out its all-time high at $22.95. Any high-volume move above that level will then give ALDR a chance to tag $25 to $30.