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Shares of Questcor Pharmaceuticals Are Moving Higher on 1.6x Above-Average Volume (QCOR)

Published on Tue, 02/26/2013 - 14:13
By Robert Cotter

The price of Questcor Pharmaceuticals shares has climbed to $32.30 (a 4.0% change) on heavy trading volume. About 2.2 million shares have been traded today, as compared to the 30-day average volume of 1.3 million shares. Unusually high volume can signify a potential turning point or validate a breakout.

Questcor Pharmaceuticals (NASDAQ:QCOR) has potential upside of 52.9% based on a current price of $32.30 and analysts' consensus price target of $49.40. The stock should find resistance at its 200-day moving average (MA) of $34.31, as well as support at its 50-day MA of $27.31.

Questcor Pharmaceuticals share prices have moved between a 52-week high of $58.91 and a 52-week low of $14.52 and are now trading 122% above that low price at $32.30 per share. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 0.8%.

Questcor Pharmaceuticals, Inc. develops and commercializes novel central nervous system-focused therapeutics that address significant unmet medical needs. The Company's primary product is a natural source adrenocorticotropic hormone indicated for the treatment of acute exacerbations of multiple sclerosis, as well as a number of other conditions.

By Robert Cotter
rcotter@fnno.com