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Bacterin International(BONE) develops, manufactures and markets biologics products to domestic and international markets through Bacterin's biologics division. This stock is trading up 8.5% at $1.65 in recent trading.
Today's Range: $1.51-$1.66
52-Week Range: $1.10-$3.93
Three-Month Average Volume: 236,359
Shares of BONE are ripping higher today after the company said it secured $25 million non-dilutive financing with an affiliate of OrbiMed Advisors. The financing will enable Bacterin to execute it growth strategy through anticipated profitability.
From a technical perspective, BONE is soaring higher here right off its 50-day moving average of $1.47 with above average volume. This move is quickly pushing BONE within range of triggering a near-term breakout trade. That trade will hit once BONE clears some near-term overhead resistance levels at $1.70 to $1.72 with high volume.
Traders should now look for long-biased trades once BONE sustains a move or close above $1.70 to $1.72 with volume that's near or above 236,359 shares. Keep in mind that traders can get long BONE off weakness and anticipate that breakout, and simply key off $1.33 as near-term support. If that breakout triggers soon, then look for BONE to re-test and possibly take out its next major overhead resistance levels at $2 to $2.13 in the near future.