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Chelsea Therapeutics(CHTP) is a specialty pharmaceutical company focused on the acquisition, development and commercialization of innovative pharmaceutical products. This stock is trading up 3.8% to $1.34 in recent trading.
Today's Range: $1.29-$1.38
52-Week Range: $0.70-$5.74
Three-Month Average Volume: 461,855
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From a technical perspective, CHTP is moving notably higher here with above-average volume. This move is quickly pushing CHTP within range of triggering a near-term breakout trade. That trade will hit once CHTP manages to take out some near-term overhead resistance levels at $1.39 to $1.48, and then once it clears $1.54 with high volume.
Traders should now look for long-biased trades in CHTP as long as it's trending above $1.29, and then once it sustains a move or close above those breakout levels with volume that hits near or above 461,855 shares. If that breakout triggers soon, then CHTP will setup to re-test or possibly take out its nest major overhead resistance levels at $1.83 to $1.99, or possibly even its 200-day moving average at $2.24.