If you're bullish
on Flex Pharma
, then I would look for long-biased trades as long as this stock is trending above some near-term support at $10.06 or even above its 20-day moving average of $9.42 a share and then once it breaks out above some near-term overhead resistance at $11.50 a share with high volume
. Look for a sustained move or close above that level with volume
that hits near or above its three-month average volume
of 88,734 shares. If that breakout develops soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $12.10 to its 200-day moving average of $12.16, or even $13 to $15 a share.
Huge insider buys