Traders should now look for long-biased trades in KERX as long as it's trending above some key near-term support at $6.50, and then once it sustains a move or close above those breakout levels with volume that hits near or above 6.38 million shares. If that breakout hits soon, then KERX will set up to re-test or possibly take out its next major overhead resistance levels at $9 to $9.98. Any high-volume move above $9.98 will then push shares of KERX into new 52-week high territory, which is bullish technical price action. Some possible upside targets if KERX makes a new 52-week high soon are $11 to $12.
To see more stocks that are making notable moves higher today, check out the Stocks Under $10 Moving Higher portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.
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