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.
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