Cadence Pharmaceuticals (CADX) is a biopharmaceutical company focused on in-licensing, developing and
Cadence Pharmaceuticals (CADX) is a biopharmaceutical company focused on in-licensing, developing andcommercializing product candidates mainly for use in the hospital setting. This stock is trading up 5.9% to $6.90 in recent trading.
Today’s Range: $6.60-$6.99
52-Week Range: $2.56-$7.19
Three-Month Average Volume: 301,187
From a technical perspective, CADX is ripping higher here right above some near-term support at $6.25 with lighter-than-average volume. This move is quickly pushing shares of CADX within range of triggering a major breakout trade. That trade will hit if CADX manages to clear its 52-week high at $7.19 with high volume.
Traders should now look for long-biased trades in CADX as long as it’s trending above $6.25 and then once it sustains a move or close above $7.19 with volume that hits near or above 301,187 shares. If that breakout triggers soon, then CADX will set up to re-test or possibly take out its next major overhead resistance levels at $7.78 to $8.50.