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2 Biotech Stocks Under $10 to Watch - views
Stocks that are making large moves like these are favorites among short-term traders because they can jump into these names and try to capture some of that massive volatility. Stocks that are making big-percentage moves either up or down are usually in play because their sector is becoming attractive or they have a major fundamental catalyst such as a recent earnings release. Sometimes stocks making big moves have been hit with an analyst upgrade or an analyst downgrade.
Regardless of the reason behind it, when a stock makes a large-percentage move, it is often just the start of a new major trend -- a trend that can lead to huge profits. If you time your trade correctly, combining technical indicators with fundamental trends, discipline and sound money management, you will be well on your way to investment success.
With that in mind, let's take a closer look at a several stocks under $10 that are making large moves to the upside today.
Mast Therapeutics (MSTX), a biopharmaceutical company, develops novel therapies for serious or life-threatening diseases with significant unmet needs. This stock closed up 2% to 48 cents per share in Thursday's trading session.
Thursday's Range: $0.46-$0.49
52-Week Range: $0.41-$0.92
Volume: 3.52 million
Three-Month Average Volume: 732,059
Shares of MSTX spiked modestly higher on Thursday after Vista Partners updated coverage on the stock with a 12-month price target of $2.25 per share.
From a technical perspective, MSTX trended slightly higher here right above some near-term support at 44 cents per share with monster upside volume. This stock has been trending sideways for the last month and change, after it gapped down sharply in June from around 65 cents per share to its 52-week low of 41 cent per share. That sideways chart pattern has seen MSTX trend between 41 cents on the downside and 50 cents on the upside. Shares of MSTX are now quickly moving within range of triggering a major breakout trade above the upper-end of its sideways trading chart pattern. That trade will hit if MSTX manages to take out some near-term overhead resistance levels at 49 to 50 cents per share with high volume.
Traders should now look for long-biased trades in MSTX as long as it's trending above some near-term support levels at 44 cents to 42 cents, and then once it sustains a move or close above those breakout levels with volume that hits near or above 732,059 shares. If that breakout triggers soon, then MSTX will set up to re-fill its previous gap down zone from June that started near 65 cents per share. If that gap gets filled, then MSTX could hit 75 to 80 cents.
Celsion (CLSN) is an innovative oncology drug development company focused on the development of treatments for those suffering with difficult to treat forms of cancer. This stock closed up 7.8% to $1.22 in Thursday's trading session.
Thursday's Range: $1.13-$1.23
52-Week Range: $0.75-$9.44
Thursday's Volume: 3.21 million
Three-Month Average Volume: 5.09 million
From a technical perspective, CLSN ripped higher here right above some near-term support at $1.07 with lighter-than-average volume. This move is quickly pushing shares of CLSN within range of triggering a near-term breakout trade. That trade will hit if CLSN manages to take out some near-term overhead resistance at $1.23 and then once it clears its 50-day moving average at $1.24 with high volume.
Traders should now look for long-biased trades in CLSN as long as it's trending above some near-term support levels at $1.07 or at $1.02, and then once it sustains a move or close above those breakout levels with volume that hits near or above 5.09 million shares. If that breakout triggers soon, then CLSN will set up to re-test or possibly take out its next major overhead resistance levels at $1.44 to $1.65. Any high-volume move above those levels will then put its next major overhead resistance levels at $2 to $2.10 into range for shares of CLSN.
To see more stocks that are making notable moves higher today, check out the Stocks Under $10 Moving Higher portfolio on Stockpickr.
-- Written by Roberto Pedone in Delafield, Wis.
At the time of publication, author had no positions in stocks mentioned.
Roberto Pedone, based out of Delafield, Wis., is an independent atrader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.