Delcath Systems

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Delcath Systems ( DCTH) is a development-stage, specialty pharmaceutical and medical device company, focused on oncology, initially cancers in the liver. This stock is trading up 8.7% to $1.87 in recent trading.

Today's Range: $1.78-$1.94

52-Week Range: $1.40-$4.74

Volume: 2.5 million

Three-Month Average Volume: 882,866

From a technical perspective, DCTH is gapping sharply higher here with monster volume. This move has pushed DCTH above its 50-day at $1.80, and its moved the stock above some near-term overhead resistance at $1.86.

Traders should now look for long-biased trades in DCTH as long as its trending above its 50-day, and then once it breaks out above its next overhead resistance levels at $2 to $2.24 with high volume. Look for a sustained move or close above those breakout levels with volume that hits near or above its three-month average action of 882,866 shares. If that breakout triggers soon, then look for DCTH to re-test or possibly take out its next overhead resistance levels at $2.43 to $2.62. Any high-volume move above its 200-day at $2.62 will setup DCTH to tag its next major resistance levels at $2.94 to $3.20.

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