(EXEL - Get Report)
This is a biotechnology company engaged in developing small molecule therapies for the treatment of cancer. The stock is trading up 4.2% to $4.70 in recent trading.
Today's Range: $4.49-$4.72
52-week Range: $3.94-$10.17
Three-Month Average Volume: 1,645,790
Shares of EXEL are ripping higher today after the company reported positive updated interim data from an ongoing phase 2 trial of cabozantinib in men with metastatic castration-resistant prostate cancer of CRPC and bone metastases.
From a technical perspective, EXEL is moving higher here off some previous support levels at $4.37 to $4.38 with below-average volume. This move is quickly pushing EXEL within range of triggering a major breakout trade. That trade will hit once EXEL takes out its 50-day moving average of $4.86, and then its 200-day moving average of $5.32 with high volume.
Traders should now look for long-biased trades off a sustained move or close above $4.86 to $5.32 with volume that's near or above 1,645,790 shares. If we get that action soon, then EXEL could easily hit its next significant overhead resistance level at $5.90.
On the flipside, I would avoid EXEL from the long side, if it fails to sustain a trend above its 50-day and 200-day with strong upside volume flows.
To see more stocks under-$10 that are making notable moves higher today, check out the
Stocks Under-$10 Moving Higher
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