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Stocks Under $10 with 50-100% upside potential - 14 days FREE!

5 Stocks Poised for Breakouts

Celldex Therapeutics

Another stock that's just starting to enter breakout territory is Celldex Therapeutics (CLDX), 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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