One final under-$10 name that looks ready to trigger a major breakout trade is Delcath Systems (DCTH), a pharmaceutical and medical device company that focuses on the treatment of primary and metastatic liver cancers. This stock has been crushed by the bears so far in 2013, with shares off by 63%.
If you take a look at the chart for Delcath Systems, you'll notice that this stock gapped down sharply in late April and early May from over $1.40 to its recent low of 38 cents per share with heavy downside volume. Following that move, shares of DCTH have been trending sideways inside of a consolidation chart pattern, with shares moving between 38 cents on the downside and 50 cents on the upside. Shares of DCTH are now starting to move within range of triggering a major breakout trade above the upper-end of its recent sideways chart pattern.
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