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XenoPort ( XNPT) is a biopharmaceutical company focused on developing and commercializing a portfolio of internally for the treatment of neurological disorders. This stock is trading up 19% to $8.06 in recent trading.

Today's Range: $7.08-$8.10

52-Week Range: $3.46-$7.79

Volume: 2 million

Three-Month Average Volume: 510,951

>>4 Biotech Stocks Under $10 With Relative Strength

From a technical perspective, XNPT is skyrocketing to the upside here with monster volume, and the stock has now entered breakout territory since it's moved above some near-term overhead resistance at $6.70 to $6.76. High-volume breakouts like this are very bullish technical price action.

Traders should now look for long-biased traders off any weakness, as long as XNPT can sustain its trend above $6.70 and with strong upside volume flows. I would consider any upside volume day that registers near or above 510,951 shares as bullish. If we continue to see XNPT hold that trend, then this stock has a great chance of re-testing and possibly taking out its next major overhead resistance levels at $11.34 to $11.82.

Keep in mind that there's also some past resistance at $7.79 that might be worth keying off of for higher prices.

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