Catalyst Pharmaceuticals Partners
Another stock in the biotechnology and drugs complex that's uptrending strong and nearing a major breakout trade is Catalyst Pharmaceuticals Partners (CPRX), which is focused on the development and commercialization of prescription drugs targeting addiction and diseases of the central nervous system. This stock is off to a decent start in 2012, with shares up over 10% so far.
If you look at the chart for Catalyst Pharmaceuticals Partners, you'll notice that this stock has been uptrending very strong since it formed a perfect double bottom chart pattern back in June at 50 cents a share. After bottom at 50 cents, this stock exploded higher to its recent high of $1.64 a share. During that monster run, shares of CPRX have been making higher lows and higher highs, which is bullish technical price action. This stock has experienced a few pullbacks during the last month, and off each of those moves it has made higher lows. Now shares of CPRX are trending within range of triggering a major breakout trade.