When the market tried to put in a bottom in July, Genoptix (GXDX) wasted no time in breaking out of its nicely-formed cup-with-handle base and tacking on some solid gains. The market has been abysmal since, but GXDX has played nice, pulling back in softer volume to its pivot point around 32.

Genoptix IPOed last year and has logged strong earnings and revenue growth since. Revenue growth has shown some deceleration, but it is still in triple digits. Earnings are due on 10/31.

Often, stocks may pull back from a successful breakout and give you a second buy opportunity as it finds support at the pivot point in the pattern. That is just what GXDX appears to be doing.

In the past few weeks, we've seen the stock find some resistance at its 50DMA, but that's not altogether surprising given market conditions. In fact, the stock has held up really well. As its price relative to the S&P has roughly traded sideways since its August breakout, much of the pullback in the stock can be attributed to general market action rather than weakness in the stock.

If it weren't for market conditions, I'd say this one's in the buy zone right now. However, buying anything in this market climate is risky. If you do take a position, keep a tight stop. The trade on this stock is predicated on the 32 level providing support--failure of this support could easily take the stock to 28.