Another stock that's starting to trend within range of triggering a major breakout trade is Neurocrine Biosciences ( NBIX), which discovers, develops and commercializes drugs for the treatment of neurological and endocrine-related diseases and disorders. This stock has been a hot name with bulls so far in 2013, with shares up 57%.
If you look at the chart for Neurocrine Biosciences, you'll notice that this stock recently gapped down sharply from $16.74 to below $11.50 a share with heavy downside volume flows. Following that gap down, shares of NBIX went on to continue its trend lower and the stock hit a new low of $10.42 a share. Shares of NBIX have started to rebound off that $10.42 low and it's now moving within range of triggering a major breakout trade.
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