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Chelsea Therapeutics(CHTP) is a development stage pharmaceutical company that focuses on acquiring, developing and commercializing products for the treatment of a variety of human diseases. This stock is trading up 4.7% at $1.39 in recent trading.
Today's Range: $1.26-$1.39
52-Week Range: $0.70-$5.74
Three-Month Average Volume: 1.2 million
>>5 Stocks Under $10 Setting Up to Break Out
From a technical perspective, CHTP is bouncing sharply to the upside here right off some near-term support at $1.20 with light volume. This move is starting to push CHTP within range of triggering a
near-term breakout trade. That trade will hit once CHTP takes out some near-term overhead resistance levels at $1.48 to $1.54 with high volume.
Traders should now look for long-biased trades in CHTP as long as it's trending above $1.20, and then once it sustains a move or close above those breakout levels with volume that's near or above 1.2 million shares. If that breakout triggers soon, then CHTP will have a great chance of re-testing or possibly taking out its next major overhead
resistance levels at $1.99 to $2.30, or possibly even its 200-day moving average at $2.71.
To see more stocks that are making notable moves higher today, check out the
Stocks Under $10 Moving Higher portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.