Osiris Therapeutics (OSIR), a stem cell company, focuses on the development and marketing products to treat medical conditions in wound care, orthopedic and sports medicine markets. This stock closed up 9.1% at $16.37 in Wednesday's trading session.
Wednesday's Volume: 1.06 million
Three-Month Average Volume: 278,990
Volume % Change: 290%
From a technical perspective, OSIR exploded higher here back above its 200-day moving average of $15.63 and into breakout territory above some near-term overhead resistance at $15.76 with heavy upside volume. This stock has been uptrending strong for the last month, with shares moving higher from its low of $11.800 to its intraday high of $16.74. During that uptrend, shares of OSIR have been consistently making higher lows and higher highs, which is bullish technical price action. Market players should now look for a continuation move to the upside if shares of OSIR manage to take out Wednesday's intraday high of $16.74 with strong volume.
Traders should now look for long-biased trades in OSIR as long as it's trending above its 200-day at $15.63 or above Wednesday's low of $14.62 and then once it sustains a move or close above $16.74 with volume that's near or above 278,990 shares. If that move triggers soon, then OSIR will set up to re-test or possibly take out its next major overhead resistance levels at $17.50 to $17.60, or even $18.41 to $19.75.