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Zogenix(ZGNX - Get Report) is a pharmaceutical company commercializing and developing products for the treatment of central nervous system disorders and pain. This stock is trading up 3.2% to $2.85 in recent trading.
Today's Range: $2.75-$2.90
52-Week Range: $1.31-$3.04
Three-Month Average Volume: 470,105
>>5 Biotech Stocks Poised for Breakouts
From a technical perspective, ZGNX is moving notably higher here with above-average volume. This move is quickly pushing ZGNX within range of triggering a major breakout trade. That trade will hit once ZGNX manages to take out some past overhead resistance levels at $2.94 to $3.04 with high volume.
Traders should now look for long-biased trades in ZGNX as long as it's trending above $2.60, and then once it sustains a move or close above those breakout levels with volume that's near or above 470,105 shares. If that breakout triggers soon, then ZGNX will have a great chance of re-testing or possibly taking out its next significant overhead resistance level at $4 to $4.50.