One under-$10 stock that's trending very close to trigger a big breakout is Bioline Rx (BLRX), a clinical-stage biopharmaceutical development company engaged in identifying, in-licensing and developing therapeutic compounds in areas of central nervous system, oncology, cardiovascular and infectious diseases. This stock has been hammered by the bears so far in 2013, with shares off by 28%.
If you take a look at the chart for Bioline Rx, you'll notice that this stock recently gapped down sharply from over $3.75 to $1.60 a share with heavy downside volume. Following that move, shares of BLRX have started to reverse its bearish price trend and rebound higher, with the stock hitting a recent high of $2.16 a share. That move is quickly pushing shares of BLRX within range of triggering a major breakout trade.
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