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Orexigen Therapeutics(OREX - Get Report) is a biopharmaceutical company focused on the development of pharmaceutical product candidates for the treatment of obesity. This stock is trading up 3.9% at $6.49 in recent trading.
Today's Range: $6.06-$6.54
52-week Range: $1.22-$6.58
Volume: 3.1 million
Three-Month Average Volume: 2.5 million
>>5 Health Care Stocks Setting Up to Break Out
From a technical perspective, OREX is trending strong here with shares moving within range of tagging a brand new
52-week high on above average volume. This move is also pushing OREX close to triggering a major breakout trade. That trade will hit once OREX takes out some near-term overheated resistance at $6.55 to $6.58 with high-volume.
Traders should now look for long-biased trades once OREX sustains a move or close above $6.55 to $6.58 with volume that's near or above 2.5 million shares. If we get that action soon, then this stock could be setting up to fill more of its gap-down from early 2011 that started near $10. This stock has made a huge run in the last few weeks, so keep this trade tight if you play the breakout, and only stay with it holds the breakout.
To see more stocks under $10 that are making notable moves higher today, check out the
Stocks Under $10 Moving Higher portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.