GENT) is engaged in the research and development of drugs derived from DNA and DNA molecules. This stock closed up 5.2% to $19.31 in Wednesday's trading session.
Wednesday's Volume: 353,000
Three-Month Average Volume: 79,169
Volume % Change: 265%
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From a technical perspective, GENT ripped higher here right off some near-term support at $18 with strong upside volume. This move is quickly pushing shares of GENT within range of triggering a major breakout trade. That trade will hit if GENT manages to take out its 52-week high at $19.50 with high volume.
Traders should now look for long-biased trades in GENT as long as it's trending above $18 or above more near-term support at $17.20, and then once it sustains a move or close above $19.50 with volume that hits near or above 79,169 shares. If that breakout hits soon, then GENT will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $24 to $25.
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