Saturday, November 12, 2011 9:51:15 PM
3SBio (SSRX) -
http://stockpickr.com/5-stocks-setting-break-out.html-12
>>> One name in the biotechnology and drug complex that’s just starting to break out is S3Bio (SSRX), a fully integrated biotechnology company focused on researching, developing, manufacturing and marketing biopharmaceutical products primarily in China. This stock has been trending lower in 2011, with shares off by around 17%.
This stock is surging over 8% today after the company beat by a penny, beat on revenues and reaffirmed its 2011 revenue guidance.
If you take a look at the chart for S3Bio, you’ll notice that this stock was crushed from its July high of $19 a share to a recent low of $10 a share hit in October. After hitting that low, the stock has started to uptrend and print higher lows and higher highs, which is bullish price action. The stock now is setting up to trigger a big breakout if it can sustain a move and closes above some past overhead resistance at $12.51 a share on strong volume.
>>10 Most-Shorted Stocks in Biotech
Market players should look a move and close over $12.51 and today’s high of $12.63 on volume that’s tracking in close to or above its three-month average action of 64,469 shares. Volume today is already hitting above that level, so watch how the stock closes to see if the breakout triggers as well.
You could be a buyer of this stock off any weakness and simply anticipate the breakout. Use a tight mental stop at around the 50-day moving average of $11.92 a share. A better strategy would be to buy off strength and get long once it closes over $12.51 with volume. If we get that close, then look for this stock to spike big back towards its 200-day moving average of $15.26 a share, or possibly even higher <<<
http://stockpickr.com/5-stocks-setting-break-out.html-12
>>> One name in the biotechnology and drug complex that’s just starting to break out is S3Bio (SSRX), a fully integrated biotechnology company focused on researching, developing, manufacturing and marketing biopharmaceutical products primarily in China. This stock has been trending lower in 2011, with shares off by around 17%.
This stock is surging over 8% today after the company beat by a penny, beat on revenues and reaffirmed its 2011 revenue guidance.
If you take a look at the chart for S3Bio, you’ll notice that this stock was crushed from its July high of $19 a share to a recent low of $10 a share hit in October. After hitting that low, the stock has started to uptrend and print higher lows and higher highs, which is bullish price action. The stock now is setting up to trigger a big breakout if it can sustain a move and closes above some past overhead resistance at $12.51 a share on strong volume.
>>10 Most-Shorted Stocks in Biotech
Market players should look a move and close over $12.51 and today’s high of $12.63 on volume that’s tracking in close to or above its three-month average action of 64,469 shares. Volume today is already hitting above that level, so watch how the stock closes to see if the breakout triggers as well.
You could be a buyer of this stock off any weakness and simply anticipate the breakout. Use a tight mental stop at around the 50-day moving average of $11.92 a share. A better strategy would be to buy off strength and get long once it closes over $12.51 with volume. If we get that close, then look for this stock to spike big back towards its 200-day moving average of $15.26 a share, or possibly even higher <<<
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