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3 Health Care 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.
Catalyst Pharmaceutical (CPRX) is a biopharmaceutical company, focused on the development and commercialization of prescription drugs targeting diseases of the central nervous system with a focus on the treatment of drug addiction and epilepsy. This stock is trading up 11.8% to $1.01 in recent trading.
Today's Range: $0.87-$1.02
52-Week Range: $0.37-$2.27
Volume: 2.56 million
Three-Month Average Volume: 771,603
From a technical perspective, CPRX is skyrocketing here right off its 200-day moving average at 85 cents per share with heavy upside volume. This move is quickly pushing shares of CPRX within range of triggering a major breakout trade. That trade will hit if CPRX manages to take out some near-term overhead resistance levels at $1.01 to $1.03 and then once it clears more resistance at $1.12 with high volume.
Traders should now look for long-biased trades in CPRX as long as it's trending above 93 cents and then once it sustains a move or close above those breakout levels with volume that hits near or above 771,603 shares. If that breakout triggers soon, then CPRX will set up to re-fill some of its gap down zone from last November that started near $1.60.
Accelerate Diagnostics (AXDX) develops BACcel system, planned for rapid diagnosis in life-threatening bacterial infections. It has also developed and out-licensed OptiChem surface coatings for use in microarraying components. This stock is trading up 3.9% to $9.19 in recent trading.
Today's Range: $8.60-$9.19
52-Week Range: $2.55-$9.19
Three-Month Average Volume: 78,503
From a technical perspective, AXDX is trending higher here right off some near-term support at $8.50 with decent upside volume. This move has started to push shares of AXDX into breakout territory, since the stock has taken out some near-term overhead resistance levels at $8.85 to $8.99.
Traders should now look for long-biased trades in AXDX as long as it's trending above today's low of $8.60 and then once it sustains a move or close above its new 52-week high at $9.19 with volume that hits near or above 78,503 shares. If we get that move soon, then AXDX will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $10 to $12.
NeoGenomics (NEO) operates a network of cancer-focused testing laboratories whose mission is to improve patient care through exceptional genetic and molecular testing services. This stock is trading up 4.4% to $4 in recent trading.
Today's Range: $3.80-$4.00
52-Week Range: $1.55-$4.20
Three-Month Average Volume: 137,084
From a technical perspective, NEO is bouncing sharply higher here right off its 50-day moving average at $3.76 with lighter-than-average volume. This move is quickly pushing shares of NEO within range of triggering a major breakout trade. That trade will hit if NEO manages to take out some near-term overhead resistance levels at $4.09 to $4.20 with high volume.
Traders should now look for long-biased trades in NEO as long as it's trending above its 50-day at $3.76 and then once it sustains a move or close above those breakout levels with volume that hits near or above 137,084 shares. If that breakout triggers soon, then NEO will set up to enter new 52-week-high territory above $4.20, which is bullish technical price action. Some possible upside targets off that breakout are $5 to $6.
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 Madison, Wis.
At the time of publication, author had no positions in stocks mentioned.
Roberto Pedone, based out of Madison, Wis., 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.