This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
Protalix Bio Therapeutics(PLX - Get Report) is a biopharmaceutical company focused on the development and commercialization of recombinant therapeutic proteins based on its ProCellEx protein expression system, ProCellEx. This stock is trading up 1.9% to $5.76 in recent trading.
Today's Range: $5.60-$5.81
52-Week Range: $4.06-$7.70
Three-Month Average Volume: 824,029
From a technical perspective, PLX is bouncing off some near-term support at around $5.56 with low volume. For the past few weeks, shares of PLX have found some decent buying interest whenever this stock has pulled back under $5.60.
>>22 Biopharma Stocks With Breakout Potential in 2012
Traders should now look for long-biased trades once PLX clears both its 200-day at $5.96 and its 50-day at $6.12 with high volume. Look for a sustained move or close above those levels with volume that's near or above 824,029 shares. A move above those levels will also push PLX above some near-term breakout levels at $5.87 to $5.96, which is bullish technical price action. If we get that action soon, then PLX has a great chance of re-filing a previous gap-down from June and trading up to $6.80 to $6.95, or possibly even $7.70.
Keep in mind that those targets will only have a chance of getting hit if PLX can sustains a high-volume trend over both its 200-day and 50-day moving averages.
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.