OxiGene (OXGN) is a clinical-stage biopharmaceutical company that develops novel therapeutics to treat cancer and eye diseases. This stock closed up 2.5% to $2.45 in Thursday's trading session.
Thursday's Range: $2.36-$2.56
52-Week Range: $2.03-$7.80
Thursday's Volume: 36,000
Three-Month Average Volume: 89,072
From a technical perspective, OXGN bounced modestly higher here right above some near-term support at $2.25 with lighter-than-average volume. This stock briefly flirted with its 50-day moving average at $2.50 on Thursday after it hit an intraday high of $2.56, but then closed just below that level at $2.45. Shares of OXGN also flirted with a near-term breakout trade, after it tested some resistance at $2.55.Traders should now look for long-biased trades in OXGN as long as it's trending above some key near-term support at $2.21 and then once it sustains a move or close above Thursday's high of $2.56 with volume that hits near or above 89,072 shares. If we get that move soon, then OXGN will set up to re-test or possibly take out its next major overhead resistance levels at $2.98 to its 200-day moving average at $3.39. Any high-volume move above $3.39 will then give OXGN a chance to tag its next major overhead resistance level at $3.85. 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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