If you're bullish on GHDX, then I would look for long-biased once this stock manages to break out above some near-term overhead resistance a $28.43 to $29 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 230.551 shares. If that breakout triggers soon, then GHDX will set up to re-fill some of that previous gap down zone that started near $32 a share.
To see more stocks with notable insider buying like NovaBay Pharmaceuticals (NBY), Take-Two Interactive (TTWO) and Pilgrim's Pride (PPC), check out the Stocks With Big Insider Buying portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.
Twitter and become a fan on Facebook. At the time of publication, author had no positions in stocks mentioned. Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.
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