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Senomyx (SNMX) is focused on using taste receptor technologies to discover and develop flavor ingredients for the packaged food, beverage and ingredient supply industries. This stock is trading up 8.5% to $2.28 in recent trading.

Today's Range: $2.03-$2.32

52-Week Range: $1.96-$6.26

Volume: 109,319

Three-Month Average Volume: 222,228

>>4 Stocks Poised to Break Out

From a technical perspective, SNMX is ripping higher here back above its 50-day moving average of $2.25 with light volume. This move is quickly pushing SNMX within range of triggering a near-term breakout trade . That trade will hit once SNMX takes out some near-term overhead resistance levels at $2.28 to $2.40 with high volume. At last check, SNMX has hit an intraday high of $2.32 with volume that's well below its three-month average action.

Traders should now look for long-biased trades once SNMX sustains a move or close above those levels with volume that's near or above 222,228 shares. If we get that action soon, then SNMX could re-test and possibly take out its next significant overhead resistance levels at $2.60 to $2.69 in the near future.

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