Another name in the biotechnology and drugs complex that's within range of triggering a breakout trade is Dendreon (DNDN), which is focused on the discovery, development and commercialization of therapeutics that may improve cancer treatment options for patients. This stock has been ripping so far in 2012, with shares up over 35%.
If you look at the chart for Dendreon, you'll see that this stock plunged big from its February high of $17.04 a share to a recent low of $9.05 with heavy volume. Following that huge drop, shares of DNDN have now started to uptrend slightly and make higher lows. The stock is now trading within range of triggering a near-term breakout trade.
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