Obagi Medical Products
One stock that's flirting with a major breakout trade here is Obagi Medical Products (OMPI), a specialty pharmaceutical company that develops, markets and sells, and is a provider of topical aesthetic and therapeutic prescription-strength skin care systems and related products in the physician-dispensed market. This stock is off to a strong start in 2012, with shares up over 50%.
If you take a look at the chart for Obagi Medical Products, you'll notice that this stock has been in a monster uptrend for the last six months, with shares soaring from a low of $10.05 to a recent high of $16.03 a share. During that large move to the upside, shares of Obagi Medical Products have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed OMPI within range of triggering a near-term breakout trade that will send the stock into new 52-week-high territory.
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