Karyopharm Therapeutics (KPTI), a clinical-stage pharmaceutical company, focuses on the discovery and development of drugs directed against nuclear transport targets for the treatment of cancer and other major diseases. This stock closed up 0.88% at $26.48 in Monday's trading session.
Monday's Volume: 348,000
Three-Month Average Volume: 205,303
Volume % Change: 60%
From a technical perspective, KPTI bounced modestly higher here right off some near-term support at $25 with above-average volume. This spike higher on Monday is starting to push shares of KPTI within range of triggering a major breakout trade. That trade will hit if KPTI manages to take out some key near-term overhead resistance levels at $28.07 to $28.51 and then once it clears its 50-day moving average of $29.33 to $29.47 with high volume.
Traders should now look for long-biased trades in KPTI as long as it's trending above some key near-term support at $25 and then once it sustains a move or close above those breakout levels with volume that's near or above 205,303 shares. If that breakout starts soon, then KPTI will set up to re-test or possibly take out its next major overhead resistance levels at $32.50 to $35, or even $37.
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