Pain Therapeutics (PTIE)
This is a biopharmaceutical company that develops novel drugs. It has four drug candidates in clinical programs, including Remoxy, Oxytrex, PTI-202 and a novel radio-labeled monoclonal antibody to treat metastatic melanoma. This stock closed up 0.75% to $2.70 in Thursday's trading session.
Thursday's Range: $2.59-$2.73
52-Week Range: $2.15-$5.86Thursday's Volume: 165,000 Three-Month Average Volume: 399,812 From a technical perspective, PTIE moved modestly higher here right above its 50-day moving average of $2.48 with lighter-than-average volume. This move is quickly pushing shares of PTIE within range of triggering a near-term breakout trade. That trade will hit if PTIE manages to take out its 200-day moving average of $2.81 and then once it clears some more near-term overhead resistance levels at $2.84 to $2.90 with high volume. Traders should now look for long-biased trades in PTIE as long as it's trending above its 50-day at $2.48, and then once it sustains a move or close above those breakout levels with volume that hits near or above 399,812 shares. If that breakout triggers soon, then PTIE will set up to re-test or possibly take out its next major overhead resistance level at $3.45. Any high-volume move above $3.45 will then give PTIE a chance to re-fill some of its previous gap down zone from May that started above $5. Conatus Pharmaceuticals (CNAT) This company is engaged in the development and commercialization of novel medicines to treat liver disease. Its lead compound, emricasan, is applied in the treatment of chronic liver disease and acute exacerbations of chronic liver disease. This stock closed up 5.6% to $9.19 in Thursday's trading session. Thursday's Range: $8.80-$9.46 52-Week Range: $8.26-$11.24 Thursday's Volume: 41,000 Three-Month Average Volume: 133,582 From a technical perspective, CNAT jumped higher here right above some near-term support at $8.51 with lighter-than-average volume. This move is quickly pushing shares of CNAT within range of triggering a major breakout trade. That trade will hit if CNAT manages to take out some near-term overhead resistance levels at $9.45 to $9.60 and then once it clears more resistance at $9.72 with high volume.