Synergy Pharmaceuticals
Wednesday's Range: $4.96-$5.32
52-Week Range: $2.50-$7.72
Wednesday's Volume: 5.47 million
Three-Month Average Volume: 2.80 million
Synergy Pharmaceuticals (SGYP) , a biopharmaceutical company, focuses on the development of drugs to treat gastrointestinal disorders and diseases. This stock closed up 8.8% to $5.30 in Wednesday's trading session.
From a technical perspective, Synergy Pharmaceuticals ripped sharply higher on Wednesday right off its 20-day moving average of $4.93 a share with strong upside volume flows. This stock has been uptrending extremely strong over the last six months, with shares ripping higher off its 52-week low of $2.50 a share to its recent high of $5.38 a share. During that uptrend, shares of Synergy Pharmaceuticals have been making mostly higher lows and higher highs, which is bullish technical price action. This rip higher on Wednesday is now quickly pushing this stock within range of triggering a near-term breakout trade. That trade will trigger if this stock manage to take out some near-term overhead resistance at $5.38 a share with high volume.
Traders should now look for long-biased trades in Synergy Pharmaceuticals as long as it's trending above its 20-day moving average of $4.93 a share or above more near-term support at $4.72 a share and then once it sustains a move or close above $5.38 a share with volume that hits near or above 2.80 million shares. If that breakout fires off soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $6 to $6.25, or even $6.50 to $7 a share.
News 
Market Data 
Discover 
