Amag Pharmaceuticals

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Amag Pharmaceuticals ( AMAG) utilizes its proprietary technology for the development and commercialization of a therapeutic iron compound to treat anemia and novel imaging agents to aid in the diagnosis of cancer and cardiovascular disease. This stock is trading up 4.5% at $16.15 in recent trading.

Today's Volume: 251,000

Average Volume: 60,600

Volume % Change: 603%

>>5 Stocks Under $10 Set to Trade Higher

From a technical perspective, AMAG is bouncing higher here back above its 200-day at $15.75 and within range of its 50-day at $16.60 with above-average volume. At last check, AMAG has hit an intraday high of $16.87 and volume is well above its three-month average action of 60,600 shares. This move is coming off of oversold levels, since its current relative strength index reading is coming off of 30 with it now at 41.

Traders should now look for long-biased trades in AMAG as long as it's trending above its 50-day at $16.60 with strong upside volume flows. I would consider any upside volume day that registers near or above 60,600 shares as bullish. If AMAG can sustain that trend, then look for this stock to re-test or possibly take out its next major overhead resistance level at $18.50 in the near future.

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