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5 Stocks Poised for Breakouts

Celldex Therapeutics

Another stock that's just starting to enter breakout territory is Celldex Therapeutics (CLDX - Get Report), which is focused on the development and commercialization of several immunotherapy technologies for the treatment of cancer and other difficult-to-treat diseases. This stock has been red hot so far in 2013, with shares up a whopping 90%.

If you take a look at the chart for Celldex Therapeutics, you'll notice that that this stock has been trending sideways in a consolidation chart pattern for the last two months, with shares moving between $11.01 on the downside and $12.49 on the upside. Shares of CLDX recently formed a triple bottom chart pattern just above $11 a share. This stock has now started to break out above some near-term overhead resistance levels at $12.34 to $12.49 a share with solid upside volume flows.

>>4 Big Stocks on Traders' Radars

Market players should now look for long-biased trades in CLDX as long as it's trending above those key breakout levels at $12.34 to $12.49 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 1.82 million shares. Volume today has already hit 1.14 million shares, and the stock has tag an intraday high of $12.96 a share.
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CLDX $7.25 7.57%
CYTR $2.50 17.37%
CYTK $7.02 2.48%
FSLR $60.99 -0.60%
SGEN $28.64 5.92%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

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