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3 Biotechs Popping on Upside Volume - 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.
This is a clinical-stage biotechnology company engaged in the research and development of innovative cancer therapeutics. This stock is trading up 5.6% to $2.93 in recent trading.
Today's Range: $2.79-$3.03
52-Week Range: $1.98-$8.32
Three-Month Average Volume: 1.19 million
From a technical perspective, ARQL is ripping higher here right above its 50-day moving average of $2.56 with light volume. This stock has been trending sideways for the last two months, with shares moving between $2.25 on the downside and $3.03 on the upside. This spike today is quickly pushing ARQL within range of triggering a near-term breakout trade that gives the stock a chance to re-fill its gap down zone from October that started above $5. That trade will hit once ARQL takes out its intraday high of $3.03 with high volume.
Traders should now look for long-biased trades in ARQL as long as it's trending above $2.53, and then once it sustains a move or close above $3.03 with volume that hits near or above 1.19 million shares. If that breakout hits soon, then ARQL will set up for the possibility of an explosive move that pushes the stock back into that gap down zone. Some possible upside targets are $4 to $5, or even its 200-day moving average at $5.44.
Trius Therapeutics (TSRX)
This is a biopharmaceutical company focused on the discovery, development and commercialization of innovative antibiotics for serious, life-threatening infections. This stock is trading up 6.1% to $4.86 in recent trading.
Today's Range: $4.56-$4.89
52-Week Range: $4.41-$7.44
Three-Month Average Volume: 181,898
From a technical perspective, TSRX is soaring higher here right above some near-term support at $4.41 with decent volume. This stock had been downtrending badly for the last three months, with shares falling from its high of $6.46 to its recent low of $4.41. During that move, shares of TSRX have been mostly making lower highs and lower lows, which is bearish technical price action. That said, TSRX is now rebounding off its $4.41 low and moving within range of triggering a near-term breakout trade. That trade will hit once TSRX clears some near-term overhead resistance levels at $5.31 to its 200-day at $5.36 with high volume.
Traders should now look for long-biased trades in TSRX as long as it's trending above $4.41, and then once it sustains a move or close above those breakout levels with volume that hits near or above 181,898 shares. If that breakout triggers soon, then TSRX will set up to re-test or possibly take out its next major overhead resistance levels at $5.90 to $5.93, or even $6.20.
Chembio Diagnostics (CEMI)
This company, together with its subsidiaries develops, manufacture and market diagnostic tests that detect infectious diseases. This stock is trading up 4.4% to $4.48 in recent trading.
Today's Range: $4.46-$4.70
52-Week Range: $0.21-$0.54
Three-Month Average Volume: 44,479
From a technical perspective, CEMI is bouncing higher here back above its 200-day at $4.39 and within range of its 50-day at $4.50 with above-average volume. At last check, CEMI has hit an intraday high of $4.70 and volume has easily surpassed its three-month average action of 44,479 shares. Shares of CEMI are now moving within range of triggering a near-term breakout trade. That trade will hit once CEMI clears some near-term overhead resistance levels at $4.90 to $5.03 with high volume.
Traders should now look for long-biased trades in CEMI as long as it's trending above some near-term support at $4.23, and then once it sustains a move or close above those breakout levels with volume that hits near or above 44,479 shares. If that breakout hits soon, then CEMI will set up to re-test or possibly take out its next major overhead resistance level at $5.30. Any high-volume move above $5.30 would then push CEMI into new 52-week high territory, which is bullish technical price action.
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 Winderemere, Fla.
At the time of publication, author had no positions in stocks mentioned.
Roberto Pedone, based out of Windermere, Fla., is an independent trader 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.