Depomed Nearing Daily Breakout

Shares of Depomed DEPO are on the rise today; currently, shares are higher by 0.93%, trading at $5.41. The stock has found daily resistance at the $5.45 level several times and is currently revisiting the level. A break above $5.45 would mean that shares of Depomed would test the daily high at $5.50 fairly easily; this is also the 200-min moving average. As a swing trade, shares could make a move to $6.00 I a heart beat if that 200-min is cleared and held. Note that Depomed has 11.56% short interest. Depomed, Inc. is a specialty pharmaceutical company focused on the development and commercialization of differentiated products that are based on oral drug delivery technologies.