Another under-$10 stock that's moving within range of triggering a major breakout trade is Ibio (IBIO), a biotechnology company focused on commercializing its technology, the iBioLaunch platform, for the production of biologics, including vaccines and therapeutic proteins. This stock is off to a hot start so far in 2012, with shares up over 30%.
If you take a look at the chart for Ibio, you'll notice that this tock spiked up huge back in July from around 70 cents to $1.70 a share with bullish upside volume flows. After hitting $1.70, shares of IBIO went on to pullback to its current price near $1.10 a share. On Wednesday, IBIO started to trend higher and find buying interest right off both its 50-day at $1.06 and its 200-day at $1.07 a share. This move is now quickly pushing IBIO within range of triggering a 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