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
- Form 8-K - Current report • Edgar (US Regulatory) • 09/19/2024 08:01:11 PM
- Rigel to Present at the 2024 Cantor Global Healthcare Conference • PR Newswire (US) • 09/12/2024 12:05:00 PM
- Rigel Announces First Patient Enrolled in Phase 1b/2 Triplet Therapy Trial of REZLIDHIA® (olutasidenib) in mIDH1 AML • PR Newswire (US) • 09/05/2024 11:30:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/05/2024 12:36:37 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/05/2024 12:33:43 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/03/2024 12:30:20 PM
- Rigel Expands Relationship with Kissei to include REZLIDHIA® (olutasidenib) in Japan, the Republic of Korea and Taiwan • PR Newswire (US) • 09/03/2024 12:00:00 PM
- Rigel to Participate in Upcoming September Investor Conferences • PR Newswire (US) • 08/29/2024 12:05:00 PM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 08/12/2024 04:15:12 AM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 08/06/2024 09:01:05 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/06/2024 08:11:12 PM
- Rigel Reports Second Quarter 2024 Financial Results and Provides Business Update • PR Newswire (US) • 08/06/2024 08:01:00 PM
- Form S-3 - Registration statement under Securities Act of 1933 • Edgar (US Regulatory) • 08/02/2024 08:53:03 PM
- Rigel Announces Conference Call and Webcast to Report Second Quarter 2024 Financial Results and Business Update • PR Newswire (US) • 07/30/2024 12:05:00 PM
- Rigel Announces Inducement Grants under NASDAQ Listing Rule 5635(c)(4) • PR Newswire (US) • 07/12/2024 12:05:00 PM
- Rigel Announces Reverse Stock Split • PR Newswire (US) • 06/25/2024 12:00:00 PM
- Rigel Pharmaceuticals Completes Transfer of GAVRETO® (pralsetinib) New Drug Application • PR Newswire (US) • 06/24/2024 08:05:00 PM
- Rigel Announces Five Presentations at the EHA2024 Hybrid Congress • PR Newswire (US) • 06/14/2024 07:05:00 AM
- Rigel Highlights New Data in Three Poster Presentations at the 2024 ASCO Annual Meeting • PR Newswire (US) • 06/03/2024 12:13:00 PM
- Rigel to Present at the Jefferies Global Healthcare Conference • PR Newswire (US) • 05/30/2024 12:05:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/29/2024 11:21:27 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/29/2024 11:21:08 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/29/2024 11:20:45 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/29/2024 11:20:29 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/29/2024 11:20:11 PM
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