Genomic Health (GHDX) is a molecular diagnostics company focused on the global development and commercialization of genomic-based clinical laboratory services that analyze the underlying biology of cancer allowing physicians and patients to make individualized treatment decisions. This stock is trading up 2.5% at $32.44 in recent trading.
Today's Volume: 154,000Average Volume: 158,132 Volume % Change: 91% From a technical perspective, GHDX recently broke out above $32 with monster volume. Following that breakout, this stock ran up and tagged $35 very quickly. Now GHDX has pulled back off of $35 to just below that breakout level at $31.37 at today's low print. Traders should now look for long-biased trades if GHDX manages to take out some near-term overhead resistance at $33 with volume. Look for a sustained move or close over $33 with volume that's near or above 158,132 shares. If we get that action soon, look for GHDX to re-test $35 and potentially take it out and trend much higher. On the flipside, I would look for short-biased trades if GHDX fails to trigger that move over $33, and then takes out its 50-day moving average of $30.05 with strong volume.
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