Questcor Breaking Out
I continue to look for signs that new money is moving in from the sidelines, but I realize I might have to wait a while. Volume has been light in the market for some time now and the summer months aren't exactly the time when institutions are pouring money into stocks.
But shares of Questcor Pharmaceuticals (QCOR) were under accumulation Tuesday. Shares popped 7.3% to $48.56. Volume totaled a little more than 3.5 million shares, almost double its average daily volume of 1.8 million shares. Questcor broke out from a bullish cup-with-handle pattern, a pattern that can deliver big gains when the market's in a confirmed uptrend. But the market's not in a confirmed uptrend yet and volatility is alive and well, which means Questcor's breakout could face headwind....282 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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