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Transition Therapeutics(TTHI) is a product-focused biopharmaceutical company developing therapeutics for disease indications with large markets. This stock is trading up 4.6% at $2.26 in recent trading.
Today's Range: $2.11-$2.26
52-Week Range: $1.15-$2.74
Three-Month Average Volume: 25,539
From a technical perspective, TTHI is trending higher here back above its 50-day moving average of $2.15 with decent volume. This move is quickly pushing TTHI within range of triggering a near-term breakout trade. That trade will hit once TTHI takes out some near-term overhead resistance at $2.27 with high volume.
Traders should now look for long-biased trades in TTHI as long as its trending above its 50-day, and then once it sustains a move or close above $2.27 with volume that's near or above 25,539 shares. If that breakout triggers soon, then TTHI will have an excellent chance of re-testing or possibly taking out its next major overhead resistance levels at $2.60 to $2.74. Keep in mind that TTHI would trigger a major breakout if it were to clear $2.74 to $2.79 with high volume. That would push the stock into new 52-week-high territory, which is bullish technical price action.
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.