A stock in the biotechnology and drugs complex that's trading within range of triggering a near-term breakout trade is Nektar Therapeutics (NKTR), which is developing a pipeline of drug candidates that utilize its PEGylation and advanced polymer conjugate technology platforms.
If you look at the chart for Nektar Therapeutics, you'll see that this stock made a monster move higher from its June low of $6.40 a share to its July high of $9.94 a share. Following that explosive move higher, shares of NKTR pulled back and entered a sideways trading pattern between $7.86 and $8.73 a share. Traders should now watch NKTR for a high-volume move outside of that sideways trading pattern, since that could trigger a powerful 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 + 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