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>>5 Bargain Bin Stocks to Buy in 2013
From a technical perspective, GALT trended up here and broke out above some near-term overhead resistance at $5 with above-average volume. This move is quickly pushing shares of GALT within range of triggering another breakout trade. That trade will hit if GALT manages to take out its 52-week high at $5.22 with high volume.
Traders should now look for long-biased trades in GALT as long as it's trending above some near-term support at $4.75 and then once it sustains a move or close above $5.22 with volume that hits near or above 52,581 shares. If that breakout triggers soon, then GALT will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are its next major overhead resistance levels at $6 to $6.78.
To see more stocks that are making notable moves higher today, check out the
Stocks Under $10 Moving Higher portfolio on Stockpickr.
-- Written by Roberto Pedone in Delafield, Wis.