Another under-$10 stock that looks ready to trigger a major breakout trade is Zogenix (ZGNX), which is engaged in the commercializing and developing products for the treatment of central nervous system disorders and pain. This stock has been hammered by the bears during the last three months, with shares down by 42%.
If you take a look at the chart for Zogenix, you'll notice that this stock has been uptrending strong for the last two months, with shares soaring from its low of $1.11 to its recent high of $1.60 a share. During that uptrend, shares of ZGNX have been mostly making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of ZGNX within range of triggering a major breakout trade.
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