GenMark Diagnostics

GenMark Diagnostics ( GNMK), a molecular diagnostics company, develops and commercializes its proprietary eSensor detection technology. This stock closed up 5.7% to $12.70 in Wednesday's trading session.

Wednesday's Volume: 970,000
Three-Month Average Volume: 335,302
Volume % Change: 332%

>>5 Stocks Poised for Breakouts

From a technical perspective, GNMK ripped sharply higher here back above both its 50-day and 200-day moving averages with strong upside volume. This move briefly pushed shares of GNMK into breakout territory, since the stock flirted with some key overhead resistance at $12.84. Shares of GNMK closed just below that breakout level at $12.70. Market players should now look for a continuation move higher for GNMK into the short-term if the stock can manage to take out Wednesday's intraday high of $12.98 with high volume.

Traders should now look for long-biased trades in GNMK as long as it's trending above its 200-day at $12.02 or above Wednesday's low of $11.40 and then once it sustains a move or close above Wednesday's high of $12.98 with volume that hits near or above 335,302 shares. If we get that move soon, then GNMK will set up to re-test or possibly take out its 52-week high at $16.

Pharmacyclics

Pharmacyclics ( PCYC) is focused on developing and commercializing innovative small-molecule drugs for the treatment of cancer and immune mediated diseases. This stock closed up 3.4% at $123.82 in Wednesday's trading session.

Wednesday's Volume: 3.08 million
Three-Month Average Volume: 743,305
Volume % Change: 335%

From a technical perspective, PCYC spiked higher here right off some near-term support at $115 with strong upside volume. This move briefly pushed shares of PCYC back above its 50-day moving average of $124.61, before the stock finished the day just below that level at $123.82. Market players should now look for a continuation move higher in the short-term if PCYC can manage to take out Wednesday's intraday high of $129.45 to more resistance at $130 with high volume.

Traders should now look for long-biased trades in PCYC as long as it's trending above $120 or above Wednesday's low of $115 and then once it sustains a move or close above $129.45 to $130 with volume that hits near or above 743,305 shares. If we get that move soon, then PCYC will set up to re-test or possibly take out its next major overhead resistance levels at $136 to its 52-week high at $143.34. Any high-volume moves above its 52-week high will then give PCYC a chance to tag $150.

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