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Durect ( DRRX) is a specialty pharmaceutical company that develops pharmaceutical products based on its proprietary drug delivery technology platforms. This stock is trading up 5.3% to $1.01 in recent trading.

Today's Range: $0.96-$1.08
52-Week Range: $0.61-$1.85
Volume: 1.42 million
Three-Month Average Volume: 687,530

>>4 Big Stocks on Traders' Radars

From a technical perspective, DRRX is ripping higher here with above-average volume. This stock is quickly moving within range of triggering a major breakout trade. That trade will hit if DRRX manages to take out its gap down day high from May of $1.10 and then once it takes out its 200-day moving average at $1.14 with high volume.

Traders should now look for long-biased trades in DRRX as long as it's trending above some near-term support at 90 cents and then once it sustains a move or close above those breakout levels with volume that hits near or above 687,530 shares. If that breakout triggers soon, then DRRX will set up to re-fill some of its previous gap down zone that started near $1.70. Some possible upside targets if DRRX gets into that gap with volume are $1.25 to $1.50.

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 Madison, Wis.


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

Roberto Pedone, based out of Madison, Wis., 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.

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