One stock in the biotechnology and drugs complex that's trending within range of triggering a major breakout trade is Novavax (NVAX - Get Report), whose product pipeline focuses on a variety of infectious diseases and whose vaccine candidates have completed clinical trials that target pandemic influenza, seasonal influenza and respiratory syncytial virus. This stock is off to a hot start in 2012, with shares up over 60% so far.
If you take a look at the chart for Novavax, you'll notice that this stock has been trading inside of a large range for the past two months, with shares bouncing between $1.80 on the downside and $2.24 on the upside. A high-volume move outside of the upper-end of that range will trigger a major breakout trade for shares of Novavax.
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