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Icon ( ICLR) is a contract research organization, providing outsourced development services on a global basis to the pharmaceutical, biotechnology and medical device industries. This stock is trading up 4% at $24.49 in recent trading.

Today's Volume: 352,000

Average Volume: 161,763

Volume % Change: 277%

>>5 Trades to Take as the Market Returns to Normal

From a technical perspective, ICLR is bouncing higher here right off its 50-day moving average of $24 with above-average volume. This move is quickly pushing ICLR within range of triggering a major breakout trade. That trade will hit once ICLR manages to take out some near-term overhead resistance levels at $25.16 to $25.51, and then once it clears some past resistance at $26.22 with high volume.

Traders should now look for long-biased trades in ICLR as long as it's trending above its 50-day at $24, and then once it sustains a move or close above those breakout levels with volume that hits near or above 161,763 shares. If that breakout triggers soon, then look for ICLR to re-test or possibly take out its next major overhead resistance levels at $28 to $30.

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