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Galena Biopharma(GALE - Get Report) is a biotechnology company focused on discovering, developing and commercializing therapies addressing unmet medical needs using RNAi-targeted and immunotherapy technologies. This stock is trading up 14.5% at $2.29 in recent trading.
Today's Range: $2.19-$2.45
52-Week Range: $0.36-$3.54
Volume: 4.8 million
Three-Month Average Volume: 2.5 million
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From a technical perspective, GALE is gapping sharply higher today on big volume right off some near-term support at $1.85. That $1.85 support level was hit after this stock just dropped from its March high of $3.54.
Traders should now look for long-biased trades if GALE can manage to close near its daily highs, and if it can manage to break out above $2.75 with volume. Look for a sustained move and close over $2.75 with volume that registers near or well above 2,532,010 shares. If we get that action soon, look for GALE to make an attempt at re-testing that $3.54 area.