Replying to my own yesterdays post ...Coincidence or squeaky wheel get the oil ?.......you decide..... ..this is from Today's "The Street.com".
4 Biotech Stocks Under $10 to Trade for Big Breakouts
By Roberto Pedone Follow | 12/09/15 - 07:35 AM EST
Get TheStreet Quant Ratings' exclusive 5-page report for (TTNP) - FREE.
Titan Pharmaceuticals
?Tuesday's Range: $5.00-$5.40
?52-Week Range: $2.49-$10.00
?Tuesday's Volume: 152,000
?Three-Month Average Volume: 48,681
Titan Pharmaceuticals (TTNP - Get Report) , a specialty pharmaceutical company, develops proprietary therapeutics for the treatment of serious medical disorders in the U.S. This stock traded up 1.9% to $5.30 in Tuesday's trading session.
From a technical perspective, Titan Pharmaceuticals spiked modestly higher here and showed relative strength compared with the overall market weakness with strong upside volume flows. This stock has experienced a number of above-average volume days combined with share price strength over the last few weeks. This high-volume move to the upside on Tuesday is now quickly pushing shares of Titan Pharmaceuticals within range of triggering a major breakout trade above some key near-term overhead resistance levels. That breakout will trigger if this stock manages to take out some near-term overhead resistance levels at $5.44 to $5.62 a share with high volume.
Traders should now look for long-biased trades in Titan Pharmaceuticals as long as it's trending above its 20-day moving average of $4.54 or its 50-day moving average of $4.35 a share and then once it sustains a move or close above those breakout levels with volume that hits near or above 48,681 shares. If that breakout materializes soon, then this stock will set up to re-test or possibly take out its next major overhead resistance level at $10 a share.
