Acadia Pharma (ACAD) Hits New 52-Week High on Volume Over Key Resistance Level
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Acadia Pharmaceuticals, Inc. (Nasdaq: ACAD) is showing some unusually strong volume Friday as shares pop to a new annual high.
Currently, about 4.6 million shares have traded compared with the daily average that is just below 1 million.
Causing the increased volume is ACADIA moving above the $2.80 level. That level was largely a resistance point for the pharma in September, which shares were parabolic.
With the exception of a spike higher in April 2011, this is the first time ACADIA has been back above $3 since September 2009.
The stock is currently up 1.5 percent on the session.
Currently, about 4.6 million shares have traded compared with the daily average that is just below 1 million.
Causing the increased volume is ACADIA moving above the $2.80 level. That level was largely a resistance point for the pharma in September, which shares were parabolic.
With the exception of a spike higher in April 2011, this is the first time ACADIA has been back above $3 since September 2009.
The stock is currently up 1.5 percent on the session.
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