Codexis (CDXS - Get Report) engages in the production of custom industrial enzymes for use in the pharmaceutical, biofuel, and chemical production. This stock closed up 4.9% to $5.73 in Tuesday's trading session.
Tuesday's Range: $1.44-$1.53
52-Week Range: $1.24-$2.89
Tuesdays Volume: 66,000
Three-Month Average Volume: 131,706
From a technical perspective, CDXS spiked higher here back above its 50-day moving average of $1.49 with lighter-than-average volume. This move is quickly pushing shares of CDXS within range of triggering a near-term breakout trade. That trade will hit if CDXS manages to take out Tuesday's high of $1.53 to some more near-term overhead resistance at $1.57 with high volume.Traders should now look for long-biased trades in CDXS as long as it's trending above some key near-term support at $1.40 and then once it sustains a move or close above those breakout levels with volume that hits near or above 131,706 shares. If that breakout hits soon, then CDXS will set up to re-test or possibly take out its next major overhead resistance levels $1.80 to its 200-day moving average of $1.96. To see more stocks that are making notable moves higher, check out the Stocks Under $10 Moving Higher portfolio on Stockpickr. -- Written by Roberto Pedone in Delafield, Wis.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts