Another stock that looks poised to trigger a near-term breakout trade is Questcor Pharmaceuticals ( QCOR), a biopharmaceutical company that provides prescription drugs for the treatment of multiple sclerosis, nephrotic syndrome and infantile spasms indications. This stock has been in play with the bulls so far in 2013, with shares up big by 84%.
If you take a look at the chart for Questcor Pharmaceuticals, you'll notice that this stock has been uptrending strong for the last month, with shares soaring higher from its low of $42.01 to its intraday high of $49.71 a share. During that uptrend, shares of QCOR have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of QCOR within range of triggering a near-term breakout trade.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts