Tuesday's Range: $7.79-$8.50
52-Week Range: $2.25-$8.99
Three-Month Average Volume: 66,121
From a technical perspective, AXDX soared higher here right above some near-term support at $7.50 with above-average volume. This stock has been uptrending strong for the last month, with shares soaring higher from its low of $4.80 to its intraday high of $8.50. During that uptrend, shares of AXDX have been consistently making higher lows and higher highs, which is bullish technical price action. That move is now quickly pushing shares of AXDX within range of triggering a major breakout trade. That trade will hit if AXDX manages to clear its 52-week high at $8.99 with high volume.
Traders should now look for long-biased trades in AXDX as long as it's trending above some key near-term support at $7.50 or $7.38 and then once it sustains a move or close above $8.99 with volume that hits near or above 66,121 shares. If that breakout triggers soon, then AXDX will set up to enter new 52-week high territory, which is bullish technical price action. Some possible upside targets off that breakout are $10 to $12.
Cadence PharmaceuticalsCadence Pharmaceuticals (CADX) is a biopharmaceutical company focused on in-licensing, developing and commercializing product candidates mainly for use in the hospital setting. This stock closed up 5% to $7.10 on Tuesday. Tuesday's Range: $6.73-$7.16
52-Week Range: $2.56-$7.45
Three-Month Average Volume: 293,838 From a technical perspective, CADX ripped higher here right above its 50-day moving average at $6.39 with heavy upside volume. This move is quickly pushing shares of CADX within range of triggering a major breakout trade. That trade will hit if CADX manages to take out some near-term overhead resistance levels at $7.20 to its 52-week high at $7.45 and then once it clears some past resistance at $7.78 with high volume. Traders should now look for long-biased trades in CADX as long as it's trending above some key near-term support levels at $6.47 to its 50-day at $6.39 and then once it sustains a move or close above those breakout levels with volume that hits near or above 293,838 shares. If that breakout triggers soon, then CADX will set up to enter new 52-week high territory, which is bullish technical price action. Some possible upside targets off that breakout are $9.50 to $10.
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