Sequenom

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Sequenom ( SQNM) is a molecular diagnostic testing and genetics analysis company committed to providing molecular diagnostic testing services, and research use only products, services, applications, and genetic analysis products that translate the results of genomic science into solutions for biomedical research, translational research, molecular medicine applications, and agricultural, livestock, and other areas of research. This stock is trading up 10% to $4.10 in recent trading.

Today's Range: $3.84-$4.19

52-Week Range: $3.46-$8.01

Volume: 3.55 million

Three-Month Average Volume: 3.6 million

Shares of SQNM are ripping higher today after Maxim Group started coverage on the stock with a buy rating and a $6 price target.

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From a technical perspective, SQNM is skyrocketing higher here with decent volume, and this move has pushed the stock into near-term breakout territory since it's cleared some overhead resistance at $3.85.

Traders should now look for long-biased trades once SQNM triggers its next major breakout. That breakout will hit once SQNM takes out $4.20 and then both its 50-day at $4.43 and its 200-day at $4.49 with high-volume. Look for a sustained move or close above those levels with volume that's near or above 3.6 million shares. If we get that action soon, then look for SQNM to hit its next significant overhead resistance levels at $5.20 to $5.44 in the near future.

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