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Verenium ( VRNM) is an industrial biotechnology company that manufactures and markets its enzyme products in the fields of animal health and nutrition, grain processing, oilseed processing and other markets, such as oilfield services, pulp and paper and textiles. Its product pipeline consists of a series of products, which address the markets the company serves, as well as enzyme markets. This stock is trading up 7.7% at $3.48 in recent trading.

Today's Range: $3.27-$3.59

52-Week Range: $1.35-$5.66

Volume: 44,000

Three-Month Average Volume: 138,323

From a technical perspective, VRNM is moving sharply to the upside here on light volume. This move is coming off of some near-term support at around $3.25, and right above its 200-day moving average of $3.01.

>>Hot Biotech Stocks Traded by Hedge Funds

Traders should now look for long-biased trades if VRNM can manage to trigger a major breakout trade above some near-term overhead resistance. That trade will hit once VRNM takes out some near-term overhead resistance at $3.63, and then its 50-day moving average of $3.88 with high-volume. Look for a sustained move or close above those levels with volume that's near or above 138,323 shares. If we get that action soon, then VRNM could easily tag $4.50 to $5 very quickly.

On the flipside, this stock should be avoided if it moves back below its 200-day at $3.01 with heavy volume.

-- Written by Roberto Pedone in Winderemere, Fla.


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At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on stocks, options, futures, commodities and currencies. He is also an outside contributor to and maintains the website, which he sold to Blue Wave Advisors in 2008. Roberto studied International Business at The Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany.

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