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TRGT) is a biopharmaceutical company engaged in the design, discovery and development of NNR Therapeutics, a new class of drugs for the treatment of diseases and disorders of the central nervous system. This stock closed up 1.3% to $5.28 in Tuesday's trading session.
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From a technical perspective, TRGT bounced modestly higher here right above its 50-day moving average of $4.98 with above-average volume. This move is quickly pushing shares of TRGT within range of triggering a near-term breakout trade. That trade will hit if TRGT manages to take out some near-term overhead resistance at $5.33 with high volume.
Traders should now look for long-biased trades in TRGT as long as it's trending above its 50-day at $4.98 or above its 200-day at $4.63 and then once it sustains a move or close above $5.33 with volume that hits near or above 219,969 shares. If that breakout triggers soon, then TRGT will set up to re-test or possibly take out its next major overhead resistance levels at its 52-week high of $5.77 to $6. Any high-volume move above $6 will then give TRGT a chance to re-fill some of its previous gap down zone from March of 2012 that started near $7.70.
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.
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