This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

5 Stocks Ready to Break Out

Coronado Biosciences

A biopharmaceutical player that's starting to trend within range of triggering a major breakout trade is Coronado Biosciences (CNDO), which focuses on the development of immunotherapy biologic agents for the treatment of autoimmune diseases and cancer. This stock has been in play with the bulls over the last three months, with shares up sharply by 52%.

>>4 Under-$10 Health Care Stocks Moving Higher

If you take a look at the chart for Coronado Biosciences, you'll notice that this has been trending sideways and consolidating over the last few weeks, with shares moving between $2.52 on the downside and $2.88 on the upside. Shares of CNDO have started to flirt with the upper-end of its recent range today, after the stock tagged an intraday high of $2.91 a share with decent upside volume flows. That move is starting to push shares of CNDO into near-term breakout territory, and it's also moving the stock within range of triggering a much bigger breakout trade.

Traders should now look for long-biased trades in CNDO if it manages to break out above some key near-term overhead resistance levels at $3 to $3.15 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 1.82 million shares. If that breakout triggers soon, then CNDO will set up to re-fill some of its previous gap-down-day zone from last October that started near $7 a share. Some possible upside targets if CNDO gets into that gap with volume are $4 to $5 a share.

Traders can look to buy CNDO off any weakness to anticipate that breakout and simply use a stop that sits right below some key near-term support levels at $2.65 to $2.52 a share, or near $2 a share One could also buy CNDO off strength once it starts to take out those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.

3 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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.
Submit an article to us!
ARIA $8.56 2.10%
CNDO $3.62 1.10%
CSUN $1.79 -1.10%
NWBO $7.62 -0.65%
STXS $2.08 0.48%


DOW 17,988.59 +275.93 1.56%
S&P 500 2,081.94 +20.92 1.02%
NASDAQ 4,937.6570 +46.4380 0.95%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs