Galena Biopharma

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Galena Biopharma ( GALE) is a biotechnology company focused on discovering, developing and commercializing innovative therapies addressing major unmet medical needs using targeted biotherapeutics. This stock is trading up 6.8% to $2.01 in recent trading.

Today's Range: $1.95-$2.07

52-Week Range: $0.36-$3.54

Volume: 1.7 million

Three-Month Average Volume: 1.3 million

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From a technical perspective, GALE is trending higher here with above-average volume. This move is quickly pushing GALE within range of triggering a major breakout trade. That trade will hit once GALE manages to clear some near-term overhead resistance levels at $2.19 to $2.30 with high volume.

Traders should now look for long-biased trades in GALE as long as it's trending above its 50-day at $1.83, and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.3 million shares. If that breakout triggers soon, then look for GALE to re-test or possibly take out its next major overhead resistance levels at $2.50 to $2.75. Any high-volume move above $2.75 will put $3.54 into focus for GALE.

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