Replies to post #292229 on ORIONS Money Stocks

[jim1234]

CBMX Float TINY 4.54 Million?? from yahoo WOW!!!
and 507,000 shares short


Share Statistics
Avg Vol (3 month)3: 843,173
Avg Vol (10 day)3: 1,303,660
Shares Outstanding5: 4.74M
Float: 4.54M
% Held by Insiders1: 14.31%
% Held by Institutions1: 5.90%
Shares Short (as of Oct 31, 2013)3: 436.06K
Short Ratio (as of Oct 31, 2013)3: 5.50
Short % of Float (as of Oct 31, 2013)3: 14.20%
Shares Short (prior month)3:

The Street article on Friday

ne stock that's starting to trend within range of triggering a near-term breakout trade is CombiMatrix (CBMX_), which operates a diagnostics reference laboratory that provides DNA-based clinical diagnostic testing services to physicians, hospitals, clinics and other laboratories in the areas of prenatal and postnatal development disorders, and hematology/oncology genomics. This stock hasnt done much over the last three months, with shares up by just 1.4%.

If you take a look at the chart for CombiMatrix, you'll notice that this stock has been uptrending over the last few weeks, with shares moving higher from its low of $2.14 to its recent high of $2.90 a share. During that move, shares of CBMX have been making mostly higher lows and higher highs, which is bullish technical price action. That uptrend has now pushed shares of CBMX within range of triggering a near-term breakout trade.



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Traders should now look for long-biased trades in CBMX if it manages to break out above some near-term overhead resistance levels at $2.90 to $2.92 a share, and then once it clears its 200-day moving average at $2.96 to more near-term overhead resistance at $3.20 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 823,656 shares. If that breakout triggers soon, then CBMX will set up to re-test or possibly take out its next major overhead resistance levels at $3.70 to $4.44 a share.

Traders can look to buy CBMX off any weakness to anticipate that breakout and simply use a stop that sits right below its 50-day moving average at $2.57 a share or just below more support at $2.20 to $2.14 a share. One can also buy CBMX off strength once it starts to take out those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.