Sunesis Pharmaceuticals

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Sunesis Pharmaceuticals ( SNSS) is a biopharmaceutical company focused on the development and commercialization of new oncology therapeutics for the treatment of hematologic and solid tumor cancers. This stock is trading up 6.1% to $3.13 in recent trading.

Today's Range: $2.89-$3.24

52-Week Range: $1.01-$3.57

Volume: 364,000

Three-Month Average Volume: 298,109

>>5 Stocks Poised for Breakouts

From a technical perspective, SNSS is bouncing hard here right off its 50-day moving average of $2.96 with above average volume. This move is quickly pushing SNSS within range of triggering a major breakout trade. That trade will hit once SNSS takes out some near-term overhead resistance levels at $3.27 to $3.38, and then some more resistance at $3.57 to $3.69 with high volume.

Traders should now look for long-biased trades if SNSS can hold a trend above $2.96 to $2.89 and then sustain a move or close above those breakout levels with volume that's near or above 298,109 shares. If that trend holds and we see that breakout trigger soon, then SNSS will have a great chance of trading north of $4.

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