Another stock that could trigger a big breakout trade soon is Horizon Pharma (HZNP), a biopharmaceutical company that develops and commercializes medicines to target unmet therapeutic needs in arthritis, pain and inflammatory diseases. This stock has been ripping to the upside so far in 2012, with shares up over 75% so far.
If you take a look at the chart for Horizon Pharma, you'll see that this stock has been uptrending strong since breaking out in mid-June above some past overhead resistance at $4.51 to $4.73 a share with monster volume. Since triggering that breakout, shares of HZNP have skyrocketed to its recent high of $8.72 a share. During that uptrend, shares of HZNP have consistently made higher lows and higher highs, which is bullish technical price action. After hitting that high of $8.72 a share, shares of HZNP have pulled back and started to trade sideways between $7.60 and $6.92 a share.
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