Another stock that's trading within range of a major breakout trade is biotechnology and drugs player Infinity Pharmaceuticals (INFI - Get Report), which engages in the discovery and development of medicines for difficult-to-treat diseases. This stock is off to a strong start in 2012, with shares up over 40%.
If you take a look at the chart for Infinity Pharmaceuticals, you'll notice that this stock has been on a tear for the last four months after it broke out above $6.95 and then $10.18 a share. That first breakout over $6.95 came with huge volume and triggered a gap-fill in this stock back to $10.18 a share. Then the breakout over $10.18 came again with big volume and pushed the stock to a recent high of $13.75 a share. Since hitting that high, shares of Infinity Pharmaceuticals have pulled back below its 50-day moving average to a recent low of $11.76 a share. That said, on Thursday the stock recaptured its 50-dy and now looks poised to trend higher and trigger another breakout trade.
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