Regeneron Pharmaceuticals

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Regeneron Pharmaceuticals ( REGN) is an integrated biopharmaceutical company, which discovers, invents, develops, manufactures and commercializes medicines for the treatment of serious medical conditions. This stock is trading up 5.7% at $161.83 in recent trading.

Today's Volume: 1.2 million

Average Volume: 731,583

Volume % Change: 219%

Shares of REGN are spiking higher today after the company reported third-quarter results that far exceeded Wall Street estimates as it won key new approvals for its eye drug Eylea and cancer drug Zaltrap.

From a technical perspective, REGN is ripping higher here right around its 50-day at $149.74 with above-average volume. This move is quickly pushing REGN within range of triggering a major breakout trade. That trade will hit once REGN manages to take out some near-term overhead resistance levels at $165 to $166.39 with high volume.

Traders should now look for long-biased traders in REGN as long as its trending above its 50-day, and then once it sustains a move or close above those breakout levels with volume that hits near or above 731,583 shares. If that breakout triggers soon, then look for REGN to trend well north of $170.

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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