One under-$10 stock in the biotechnology and drugs complex that's trading very close to triggering a breakout trade is Dara Biosciences (DARA), a specialty pharmaceutical company focused on the development and commercialization of oncology treatment and supportive care pharmaceutical products. This stock has been hit hard by the bears during the last six months, with shares down by over 50%.
If you take a look at the chart for Dara, you'll notice that this stock has moved into a sideways trading pattern for the last two months, after it came out of a nasty downtrend from $2.77 to its recent low of 62 cents per share. That sideways trading pattern how has DARA trending between 65 cents on the downside and 77 cents on the upside. Shares of DARA have just started to move above 77 cents per share with high volume, and it now looks poised to trigger another major 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