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ADXS) is a clinical development stage biotechnology company, developing safe and effective immunotherapies for cancer and infectious diseases with its lead construct, ADXS-HPV, being evaluated in five clinical trials for HPV-associated diseases. This stock closed up 3.7% to $3.87 in Tuesday's trading session.
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From a technical perspective, ADXS trended higher here with heavy upside volume. This stock recently gapped down sharply from around $5.50 to $3.50 with heavy downside volume. This stock went on to print a new low a few trading sessions later at $3.38. Following that gap down, shares of ADXS have now started to rebound off that $3.38 low and move within range of triggering a major breakout trade. That trade will hit if ADXS manages to take out Tuesday's high of $3.95 to $4 with high volume.
Traders should now look for long-biased trades in ADXS as long as it's trending above its recent low of $3.38 and then once it sustains a move or close above those breakout levels with volume that hits near or above 199,533 shares. If that breakout triggers soon, then ADXS will set up to re-fill some of its previous gap down zone that started near $5.50.
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