Edap

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

Edap ( EDAP) develops and markets the Ablatherm device, an advanced choice for High Intensity Focused Ultrasound treatment of localized prostate cancer. This stock is trading up 7.8% to $2.03 in recent trading.

Today's Range: $1.85-$2.14

52-Week Range: $1.37-$4.74

Volume: 135,000

Three-Month Average Volume: 88,157

Shares of EDAP are ripping higher today after the company announced the installation of a third Sonolith i-move lithotripter in the U.S.

>>Health Care Stocks Bought and Sold by Hedge Funds

From a technical perspective, EDAP is bursting back above its 50-day moving average today at $2.01 with above average volume. This move has also pushed EDAP into breakout territory with shares trending above some near-term overhead resistance at $1.89 to $2.

Traders should now look for long-biased trades off the next major breakout for EDAP. That breakout will trigger once EDAP moves or closes above its 200-day moving average of $2.18 with high volume. Look for volume on that move that's near or well above 88,157 shares. IF we get that action soon, look for EDAP to re-test its next significant overhead resistance levels at around $2.50 to $2.60.

Keep in mind that I would only be looking for long trades if EDAP is trending above $2.18 with strong upside volume flows.

If you liked this article you might like

Will Allergan's Deal With Tribe Hold Up?

2 Small Biotechs Under $5 May Be Bargains

Resist All the Dow 22K Hoopla: Cramer's 'Mad Money' Recap (Wednesday 8/2/17)

3 Biotech Stocks on Readers' Minds

Biotech Stocks Finally Stage Breakthrough