DELAFIELD, Wis. (Stockpickr) -- These three biotech stocks are within range of triggering breakout trades.
Columbia Laboratories (CBRX - Get Report) engages in the research, development and commercialization of women's health care and endocrinology products. This stock closed up 3.9% to $7.04 in Wednesday's trading session.
Wednesday's Range: $6.76-$7.05
52-Week Range: $4.48-$8.37
Thursday's Volume: 29,000
Three-Month Average Volume: 59,108
From a technical perspective, CBRX spiked sharply higher here right above its 50-day moving average of $6.68 with lighter-than-average volume. This move pushed shares of CBRX into breakout territory, since the stock took out some near-term overhead resistance at $6.98. Shares of CBRX are now quickly moving within range of triggering another big breakout trade. That trade will hit if CBRX manages to take out some near-term overhead resistance levels at $7.14 to $7.34 and then $7.58 to $7.80 with high volume.Traders should now look for long-biased trades in CBRX as long as it's trending above its 50-day at $6.68 or above its 200-day at $6.45 and then once it sustains a move or close above those breakout levels with volume that hits near or above 59,108 shares. If that breakout triggers soon, then CBRX will set up to re-test or possibly take out its next major overhead resistance level at its 52-week high at $8.37 to $9.84.
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.