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Metabolix(MBLX - Get Report) is a bioscience company that develops and is in the process of commercializing environmentally sustainable, economically attractive alternatives to petroleum-based plastics, with work underway to do the same with chemicals and energy. This stock is trading up 11.8% to $1.88 in recent trading.
Today's Range: $1.67-$1.85
52-Week Range: $1.07-$3.48
Three-Month Average Volume: 197,432
From a technical perspective, MBLX is ripping higher here back above its 200-day moving average of $1.72 with decent volume. This move has also pushed shares of MBLX into breakout territory, since the stock has taken out some near-term overhead resistance at $1.78. Shares of MBLX are now quickly moving within range of triggering another major breakout trade. That trade will hit if MBLX manages to take out some near-term overhead resistance levels at $2 to $2.10 and then $2.19 with high volume.
Traders should now look for long-biased trades in MBLX as long as it's trending above its 200-day at $1.72, and then once it sustains a move or close above those breakout levels with volume that hits near or above 197,432 shares. If that breakout triggers soon, then MBLX will set up to re-test or possibly take out its next major overhead resistance levels at $2.32 to $2.67. Any high-volume move above $2.67 will then put $3 to $3.20 into range for shares of MBLX.