Another stock in the biotechnology and drugs complex that's setting up to trigger a major breakout trade is XenoPort (XNPT), which is focused on developing and commercializing a portfolio of internally for the treatment of neurological disorders. This stock is off to a monster start in 2012, with shares up around 120%.
If you look at the chart for XenoPort, you'll see that this stock has been in a monster uptrend for the last six months, with shares skyrocketing higher from a low of $3.88 to a recent high of $8.79 a share. During that uptrend, shares of XNPT have been mostly making higher lows and higher highs, which is bullish technical price action. That strong uptrend has now pushed XNPT within range of triggering a near-term breakout trade.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV