One under-$10 stock in the biotechnology and drugs complex that's trading very close to triggering a breakout trade is Dara Biosciences (DARA - Get Report), 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.
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