Celldex Therapeutics (CLDX_), a biopharmaceutical company, focuses on the development, manufacture, and commercialization of novel therapeutics for human health care primarily in the U.S. This stock closed up 7.4% at $16.26 in Monday's trading session.
Monday's Volume: 4.37 million
Three-Month Average Volume: 2.73 million
Volume % Change: 85%
From a technical perspective, CLDX ripped sharply higher here right above its 50-day moving average of $14.54 with above-average volume. This spike higher on Monday also pushed shares of CLDX into breakout territory, since the stock took out some key overhead resistance levels at $15.97 to $16.16. Shares of CLDX are now starting to trend within range of triggering another big breakout trade. That trade will hit if CLDX manages to clear some past resistance levels at $17.20 to $18.52 with strong upside volume.
Traders should now look for long-biased trades in CLDX as long as it's trending above Monday's low of $15.04 or above its 50-day at $14.54 and then once it sustains a move or close above those breakout levels with volume that's near or above 2.73 million shares. If that breakout triggers soon, then CLDX will set up to re-test or possibly take out its next major overhead resistance levels at $22 to its 200-day moving average of $23.04, or even $25.