Biotech Breakouts

Biotechs, biotechs, biotechs. They continue to be hot, but many of the big names are played by so many folks, you may have to dig a little to find really big movers based on momentum. I know that some traders don't like to venture into the small-cap or even micro-cap space for biotechs, so I offer up Celldex Therapeutics (CLDX). The chart looks fantastic. The price pattern is strong, and I am looking for any pullbacks to the trendline that has formed over the past five days as a potential buying opportunity. There are no yellow flags or bearish divergences that I'm concerned about. Obviously, reversals in biotechs can come -- and come quickly -- but the technical picture is very strong.

Celldex Therapeutics (CLDX) Source: StockCharts.com View Chart » View in New Window » ...156 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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