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Celsion ( CLSN) is an oncology drug development company focused on the development of therapeutics for those suffering with difficult to treat forms of cancer. This stock is trading up 9.4% at $2.9 in recent trading.

Today's Range: $2.04-$2.20

52-Week Range: $1.64-$4.37

Volume: 708,000

Three-Month Average Volume: 429,311

Shares of CLSN are soaring today after Brean Murray initiated coverage on the stock with a buy and a $7 a share price target.

From a technical perspective, CLSN is gapping higher today on monster volume. If you take a look at CLSN's chart, you'll see that a number of recent up days have registered massive volume. That's bullish technical behavior, and now the stock is approaching some key breakout levels.

Traders should continue to look for long biased trades in CLSN if it can manage to take out some near-term overhead resistance at $2.34 to $2.37 with volume.

I also featured Celsion earlier this month in " 5 Stocks Setting Up to Break Out."

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