One stock that's trending very close to triggering a major breakout trade is Seattle Genetics (SGEN - Get Report), which develops and commercializes monoclonal antibody-based therapies for the treatment of cancer and autoimmune disease. This stock has been a monster winner for the bulls so far in 2013, with shares up 57%.
If you take a look at the chart for Seattle Genetics, you'll notice that this stock has been uptrending strong for the last two months, with shares soaring higher from its low of $26.60 to its recent high of $37.64 a share. During that uptrend, shares of SGEN have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of SGEN within range of triggering a major breakout trade.
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