Array BioPharma

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Array BioPharma ( ARRY) is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule drugs to treat patients afflicted with cancer and inflammatory diseases. This stock is trading up 12.5% at $2.70 in recent trading.

Today's Range: $2.54-$2.70

52-Week Range: $1.58-$3.41

Volume: 812,000

Three-Month Average Volume: 302,574

From a technical standpoint, ARRY is gapping up strong today on monster volume and is triggering a breakout above some near-term overhead resistance at $2.54.

Market players should now watch for the next breakout trade to trigger once ARRY takes out $2.87 to $2.98 with volume. Look for volume on any move above those levels that's near or above 302,574 shares.

If we get that action soon, then look for ARRY to make a run at $3.20 to $3.40.

I included Array in a list earlier this month of Stocks Under $10 Setting Up to Trade Higher.

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