A biotechnology and drugs player that insiders are falling in love with here is Genomic Health ( GHDX), a molecular diagnostics company focused on the global development and commercialization of genomic-based clinical laboratory services that analyze the underlying biology of cancer allowing physicians and patients to make individualized treatment decisions. Insiders are buying into strength here since this stock is up over 17% so far in 2012. Genomic Health has a market cap of $894 million and an enterprise value of $770 million. This stock trades at a premium valuation, with a trailing price-to-earnings of 105.32 and a forward price-to-earnings of 166.17. Its estimated growth rate for this year is -103.8%, and for next year it's pegged at 1,900%. This is a cash-rich company, since the total cash position on its balance sheet is $101.85 million and its total debt zero. A director and beneficial owner just bought 195,701 shares, or around $5.56 million worth of stock, at $27.99 to $28.50 per share. From a technical perspective, GHDX is currently trading above both its 50-day and 200-day moving averages, which is bullish. In fact, this stock recaptured its 50-day moving average of $29.63 on Wednesday with decent volume. That move back above its 50-day has also pushed the stock within range of triggering a major near-term breakout trade. If you're in the bull camp on GHDX, I would look for long-biased trades as long this stock is trending above its 50-day and if it triggers that breakout above $29.99 with strong upside volume. Look for up-day volume that's near or well above its three-month average action of 145,390 shares. If that breakout triggers soon, then GHDX should easily continue its uptrend towards its March high of $32 a share. If that level gets hit, I would then add to any long positions if it gets taken out with high-volume. I would avoid this stock or look for short-biased trades if GHDX fails to maintain its uptrend above its 50-day moving average of $29.62 a share, or if it fails to trigger that breakout above $29.99 a share. This stock could easily trend down towards some near-term support levels at $27.76 to $27.42 a share if heavy volume selling pushes this back below its 50-day soon.