Galena Biopharma

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Galena Biopharma ( GALE) is a biotechnology company focused on discovering, developing and commercializing therapies addressing unmet medical needs using RNAi-targeted and immunotherapy technologies. This stock is trading up 24.5% at $1.93 in recent trading.

Today's Range: $1.66-$1.99

52-Week Range: $0.36-$1.71

Volume: 6.9 million

Three-Month Average Volume: 1.1 million

Shares of GALE are soaring higher today after the company received a notice of allowance patent for NeuVax in IHC1+/2+.

From a technical perspective, GALE is soaring higher today on monster volume. This huge move the upside today has now pushed the stock into breakout territory. That breakout triggered once GALE took out some near-term overhead resistance at $1.66 to $1.71 with volume.

Traders should continue to look for long biased trades in GALE as long as this stock closes above those breakout levels today and near its daily high. At last check, the daily high is $1.96. If we get a strong close today, look for GALE to continue its uptrend towards $2.50 or higher in the near future.

I also featured Galena in " 5 Stocks Setting Up to Break Out."

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