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Athersys ( ATHX) is a biopharmaceutical company focused in the field of regenerative medicine. This stock closed up 4.3% to $1.69 in Tuesday's trading session.

Tuesday's Range: $1.65-$1.75
52-Week Range: $0.95-$2.42
Tuesday's Volume: 1.07 million
Three-Month Average Volume: 331,578

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From a technical perspective, ATHX gapped higher here back above its 50-day moving average of $1.63 with above-average volume. This move is starting to push shares of ATHX within range of triggering a near-term breakout trade. That trade will hit if ATHX manages to take out some near-term overhead resistance levels at $1.75 to $1.77 with high volume.

Traders should now look for long-biased trades in ATHX as long as it's trending above its 50-day at $1.63 or above more near-term support at $1.55 and then once it sustains a move or close above those breakout levels with volume that hits near or above 331,578 shares. If that breakout triggers soon, then ATHX will set up to re-test or possibly take out its next major overhead resistance levels at $1.96 to $2.16. If those levels get taken out with volume, then ATHX could tag its next major overhead resistance levels at $2.25 to $2.42.

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