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Array Biopharma(ARRY - Get Report) is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule drugs to treat patients afflicted with cancer and inflammatory diseases. This stock is trading up 3.8% to $5.74 in recent trading.
Today's Range: $5.50-$5.74
52-Week Range: $1.58-$5.94
Three-Month Average Volume: 1,016,790
From a technical perspective, ARRY is trending higher here right off some near-term support at $5.50 with light volume. This move is quickly pushing ARRY within range of triggering a major breakout trade. That trade will hit once ARRY manages to clear some near-term overhead resistance at $5.94 with high volume.
Traders should now look for long-biased trades in ARRY as long as it's trending above $5.25, and then once it sustains a move or close above $5.94 with volume that's near or above 1,016,790 shares. If that breakout triggers soon, then ARRY will enter new 52-week-high territory and levels not seen since 2008. Some possible upside targets are $7 to $8 if ARRY triggers that breakout soon with volume.
To see more stocks under-$10 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.