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Genomic Health(GHDX - Get Report) which is engaged in the development and commercialization of genomic-based clinical laboratory services that analyze the underlying biology of cancer. This stock closed up 8.2% at $35.84 on Tuesday.
Tuesday's Volume: 460,696
Average Volume: 176,663
Volume % Change: 161%
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From a technical perspective, GHDX ripped to the upside and closed above its 50-day moving average of $34.61 with above-average volume. This move is quickly pushing GHDX within range of triggering a major breakout trade. That trade will hit once GHDX manages to take out some near-term overhead resistance levels at $36.83 to $37.44 with high volume.
Traders should now look for long-biased trades in GHDX as long as its trending above its 50-day, and then once it sustains a move or close above those breakout levels with volume that hits near or above 170,706 shares. If that breakout triggers soon, then GHDX will setup to trend north of $40.