This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
Cardium Therapeutics (
CXM) is a medical technology company mainly develops and commercializes novel products and devices for cardiovascular and ischemic disease, wound healing and tissue repair. This stock closed up 1.1% to $1.80 in Thursday's trading session.
>>5 Stocks With Big Insider Buying
From a technical perspective, CXM bounced sharply higher here right off some near-term support at 72 cents with strong upside volume. This stock recently formed a double bottom chart pattern at 69 cents to 70 cents. Following that bottom, shares of CXM have started to rebound higher and move within range of triggering a major breakout trade. That trade will hit if CXM manages to take out some near-term overhead resistance levels at 86 cents to 92 cents, and then 96 cents with high volume.
Traders should now look for long-biased trades in CXM as long as it's trending above support at 70 cents and then once it sustains a move or close above those breakout levels with volume that hits near or above 68,300 shares. If that breakout hits soon, then CXM will set up to re-test or possibly take out its next major overhead resistance levels at $1.35.
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.
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.