Questcor Pharmaceuticals

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Questcor Pharmaceuticals ( QCOR) is a biopharmaceutical company, provides prescription drugs for the treatment of multiple sclerosis, nephrotic syndrome and infantile spasms indications. This stock is trading up 7% at $20.62 in recent trading.

Today's Volume: 4.6 million

Average Volume: 5.4 million

Volume % Change: 50%

From a technical perspective, QCOR is bouncing sharply higher here with decent volume, and it's started to move into breakout territory above some near-term overhead resistance at $20.40. Traders should now look for QCOR to trigger its next major breakout trade. That trade will hit once QCOR manages to take out its gap down day high from two weeks ago at $22.75 with high volume.

Traders should look for long-biased trades in QCOR as long as it's trending above $20.40, and then once it sustains a move or close above $22.75 with volume that hits near or above 5,371,110 shares. If that breakout triggers soon, then QCOR will have an excellent chance to re-fill some of its gap and possibly hit $30 to $33 in the near future.

To see more stocks rising on unusual volume, check out the Stocks Rising On Unusual Volume portfolio on Stockpickr.

-- Written by Roberto Pedone in Winderemere, Fla.

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At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on stocks, options, futures, commodities and currencies. He is also an outside contributor to Beconequity.com and maintains the website Maddmoney.net, which he sold to Blue Wave Advisors in 2008. Roberto studied International Business at The Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany.

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