Another stock that's setting up for a major breakout trade is Zogenix (ZGNX - Get Report), a pharmaceutical company engaged in commercializing and developing products for the treatment of central nervous system disorders and pain. This stock is up modestly so far on the year, with shares up around 10%.
If you take a look at the chart for Zogenix, you'll notice that this stock has been uptrending very strong for the last three months, with shares consistently making higher lows and higher highs, which is bullish technical price action. That uptrend has taken ZGNX from a May low of $1.55 to its recent high of $2.60 a share. That bullish price action has now pushed ZGNXZ within range of triggering a major breakout trade.
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