This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

5 Stocks Poised for Breakouts

Alexza Pharmaceuticals

Another stock that's trading within range of triggering a major breakout trade is Alexza Pharmaceuticals (ALXA - Get Report), which is focused on the research, development and commercialization of products for the acute treatment of central nervous system conditions. This stock has been hit hard by the sellers so are in 2012, with shares down by around 38%.

This is another biotech player with a major catalyst on the horizon. This company has a scheduled PDUFA date of Dec. 21 for its Adasuve product, which is designed for the treatment of agitation associated with schizophrenia or biopolar I disorder in adults.

>>5 Stocks Insiders Love Right Now

If you look at the chart for Alexza Pharmaceuticals, you'll notice that this stock just recently started to bounce right off its 50-day moving average of $4.20 a share with decent volume. That bounce has now pushed ALXA within range of triggering a major breakout trade back above some near-term overhead resistance, and above its 200-day moving average at $5.30 a share.

Market players should now look for long-biased trades in ALXA if it can manage to break out above some near-term overhead resistance levels at $5.15 to $5.30 a share with high volume. Look for a sustained move or close above those levels with volume that registers near or above its three-month average action of 450,838 shares. If that breakout triggers soon, then ALXA will have a great chance of exploding higher and running up into its PDUFA meeting. Some possible upside targets off that breakout are $6 to $8 a share, and possibly even $9 a share.

One could look to buy ALXA once that breakout triggers above $5.15 to $5.30 with volume and then simply use a stop that sits just below some previous resistance at around $4.86 a share.
4 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
ALXA $1.03 0.00%
CTCM $2.16 0.00%
QTM $1.67 0.00%
SIMO $34.84 0.00%
SUPN $16.75 0.00%

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs