Trinity Biotech

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Trinity Biotech ( TRIB) develops, acquires, manufactures and markets medical diagnostic products for the clinical laboratory and point-of-care segments of the diagnostic market. This stock is trading up 4.8% at $18.01 in recent trading.

Today's Volume: 148,000
Average Volume: 53,614
Volume % Change: 267%

>>3 Biotech Stocks Under $10 Spiking Higher

From a technical perspective, TRIB is ripping higher here right above its 50-day at $16.79 with above-average volume. This move has pushed TRIB into breakout territory, since the stock has taken out some near-term overhead resistance levels at $17.40 to $17.71. Shares of TRIB are now quickly moving within range of triggering another major breakout trade. That trade will hit if TRIB manages to take out some more key resistance levels at $18.78 to its 52-week high at $19 with high volume.

Traders should now look for long-biased trades in TRIB as long as it's trending above $17.40 or above $17 and then once it sustains a move or close above those breakout levels with volume that hits near or above 53,614 shares. If that breakout triggers soon, then TRIB will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $20 to $23.

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