Traders should now look for long-biased trades in KERX as long as it's trending above some key near-term support at $6.50, and then once it sustains a move or close above those breakout levels with volume that hits near or above 6.38 million shares. If that breakout hits soon, then KERX will set up to re-test or possibly take out its next major overhead resistance levels at $9 to $9.98. Any high-volume move above $9.98 will then push shares of KERX into new 52-week high territory, which is bullish technical price action. Some possible upside targets if KERX makes a new 52-week high soon are $11 to $12.

To see more stocks that are making notable moves higher today, check out the Stocks Under $10 Moving Higher portfolio on Stockpickr.

-- Written by Roberto Pedone in Winderemere, Fla.

RELATED LINKS:



Follow Stockpickr on Twitter and become a fan on Facebook.

At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.

If you liked this article you might like

Strong Action in Individual Stocks Starts to Feel a Bit Frothy

The Flippers Are at Work and the Bears Are Hopeful

Portola Shares Lower After Pricing Stock Offering - Biotech Movers

Time to Bring Amicus Therapeutics Into the 'FOLD'

Teligent Shares Rise on FDA Approval for Erythromycin Topical Gel