Cardium Therapeutics

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

Cardium Therapeutics ( CXM) is a medical technology company mainly develops and commercializes novel products and devices for cardiovascular and ischemic disease, wound healing and tissue repair. This stock closed up 1.1% to $1.80 in Thursday's trading session.

Thursday's Range: $0.72-$0.84
52-Week Range: $0.58-$4.80
Thursday's Volume: 261,021
Three-Month Average Volume: 68,300

>>5 Stocks With Big Insider Buying

From a technical perspective, CXM bounced sharply higher here right off some near-term support at 72 cents with strong upside volume. This stock recently formed a double bottom chart pattern at 69 cents to 70 cents. Following that bottom, shares of CXM have started to rebound higher and move within range of triggering a major breakout trade. That trade will hit if CXM manages to take out some near-term overhead resistance levels at 86 cents to 92 cents, and then 96 cents with high volume.

Traders should now look for long-biased trades in CXM as long as it's trending above support at 70 cents and then once it sustains a move or close above those breakout levels with volume that hits near or above 68,300 shares. If that breakout hits soon, then CXM will set up to re-test or possibly take out its next major overhead resistance levels at $1.35.

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 Delafield, Wis.


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 Delafield, 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 and You can follow Pedone on Twitter at or @zerosum24.

If you liked this article you might like

3 Biotech Stocks Under $10 to Watch

Biotech 2013 by the Numbers: A Blockbuster Year

Biotech Stock Mailbag: Idenix vs. Pharmasset?

Biotech Stock Mailbag: Idenix vs. Pharmasset?

Biotech Stock Mailbag: Generex

Biotech Stock Mailbag: Generex