Friday, April 12, 2013 3:28:36 PM
>>2 Biotech Stocks Under $10 to Watch
If you look at the chart for Rigel Pharmaceuticals, you’ll notice that this stock recently gapped down huge from over $7.50 a share to its 52-week low of $4.41 a share with heavy downside volume. That move has pushed shares of RIGL into oversold territory, since its current relative strength index reading is 30. Oversold can always get more oversold, but it’s also an area where a stock can experience a powerful bounce higher from if buyers step in. Shares of RIGL have started to trend up off that $4.41 low and it’s now quickly moving within range of triggering a major breakout trade.
Traders should now look for long-biased trades in RIGL if it manages to break out above some near-term overhead resistance at $4.81 a share and then once it takes out its gap down day high of $5.14 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average volume of 729,058 shares. If that breakout triggers soon, then RIGL will set up to re-fill some of its previous gap down zone from earlier this month that started above $7.50 a share.
Traders can look to buy RIGL off any weakness to anticipate that breakout and simply use a stop that sits right below its 52-week low of $4.41 a share. One can also buy RIGL off strength once it takes out those breakout levels with volume and then simply use a stop just below at around $4.70 to $4.50 a share.
http://www.stockpickr.com/5-stocks-poised-breakouts.html-29?puc=yahoo&cm_ven=YAHOO
Recent RIGL News
- Rigel Announces Conference Call and Webcast to Report First Quarter 2024 Financial Results and Business Update • PR Newswire (US) • 04/30/2024 12:05:00 PM
- Rigel Announces Inducement Grants under NASDAQ Listing Rule 5635(c)(4) • PR Newswire (US) • 04/10/2024 08:30:00 PM
- Rigel Announces Publication of Data on REZLIDHIA® (Olutasidenib) in Post-Venetoclax Patients with Mutant IDH1 AML in Leukemia & Lymphoma • PR Newswire (US) • 04/04/2024 12:05:00 PM
- Rigel Pharmaceuticals Announces Appointment of Lisa Rojkjaer, M.D. as Chief Medical Officer • PR Newswire (US) • 03/12/2024 12:05:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/05/2024 09:10:40 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 03/05/2024 09:06:00 PM
- Rigel Reports Fourth Quarter and Full Year 2023 Financial Results and Provides Business Update • PR Newswire (US) • 03/05/2024 09:01:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/02/2024 12:16:09 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/02/2024 12:15:44 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/02/2024 12:15:20 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/02/2024 12:14:43 AM
- Rigel Announces Conference Call and Webcast to Report Fourth Quarter and Full Year 2023 Financial Results and Business Update • PR Newswire (US) • 02/27/2024 01:05:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/22/2024 01:00:39 PM
- Rigel Pharmaceuticals Acquires U.S. Rights to GAVRETO® • PR Newswire (US) • 02/22/2024 12:50:00 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/14/2024 07:30:19 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/07/2024 01:18:59 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/07/2024 01:18:43 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/07/2024 01:18:16 AM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/02/2024 02:56:03 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/26/2024 02:17:36 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/26/2024 02:17:25 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/26/2024 02:17:11 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/26/2024 02:16:50 AM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 01/25/2024 06:48:49 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/08/2024 01:30:13 PM
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