Ironwood Pharmaceuticals

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Ironwood Pharmaceuticals ( IRWD) is a pharmaceutical company that discovers and develops medicines. The stock is trading up 7.3% at $14.80 in recent trading.

Today's Volume: 888,000

Average Volume: 289,711

Volume % Change: 266%

Shares of IRWD are ripping higher today on strong volume after the company said that it was informed that the FDA will not schedule an advisory committee meeting in connection with the its review of the New Drug Application for linaclotide.

From a technical perspective, IRWD is ripping higher today on monster volume and the stock is quickly approaching a breakout trade if it can manage to clear some near-term overhead resistance.

Traders should look for a sustained high-volume move and close above $15.67 to signal that this stock wants to trend much higher. Look for volume on a move above that level that's near or above 289,711 shares. If we get that action soon, then I would target a move back towards some major past resistance at $16.50.

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