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>>5 Summer Buy Signals From the Health Care Sector
From a technical perspective, PBTH trended higher here right above its 50-day moving average of $6.28 with lighter-than-average volume. This stock has been uptrending strong for the last three months, with shares marching higher from its low of $4.80 to its recent high of $6.56. During that uptrend, shares of PBTH have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of PBTH within range of triggering a major breakout trade. That trade will hit if PBTH manages to take out its 52-week high at $6.56 with high volume.
Traders should now look for long-biased trades in PBTH as long as it's trending above its 50-day at $6.28 or above some more key near-term support at $6.10 and then once it sustains a move or close above $6.56 with volume that hits near or above 316,065 shares. If that breakout triggers soon, then PBTH will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are 7.50 to $8.50.