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5 Biotech Stocks Under $10 Blasting Higher - 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.
Sunesis Pharmaceuticals (SNSS) is a biopharmaceutical company focused on the development and commercialization of new oncology therapeutics for the treatment of hematologic and solid tumor cancers. This stock is trading up 6.1% to $3.13 in recent trading.
Today's Range: $2.89-$3.24
52-Week Range: $1.01-$3.57
Three-Month Average Volume: 298,109
From a technical perspective, SNSS is bouncing hard here right off its 50-day moving average of $2.96 with above average volume. This move is quickly pushing SNSS within range of triggering a major breakout trade. That trade will hit once SNSS takes out some near-term overhead resistance levels at $3.27 to $3.38, and then some more resistance at $3.57 to $3.69 with high volume.
Traders should now look for long-biased trades if SNSS can hold a trend above $2.96 to $2.89 and then sustain a move or close above those breakout levels with volume that's near or above 298,109 shares. If that trend holds and we see that breakout trigger soon, then SNSS will have a great chance of trading north of $4.
Cytori Therapeutics (CYTX) develops, manufactures, and sells medical products and devices to enable the practice of regenerative medicine. This stock is trading up 6.8% to $2.89 in recent trading.
Today's Range: $2.71-$2.96
52-Week Range: $1.90-$4.50
Three-Month Average Volume: 253,780
From a technical perspective, CYTX is ripping to the upside here right off some near-term support at $2.70 with decent volume. This move has also pushed CYTX above some near-term breakout levels at $2.65 and $2.72.
Traders should now look to play the next major breakout trade for CYTX. That trade will trigger once CYTX takes out some near-term overhead resistance at $3 to $3.10 with high volume. Traders should look for long-biased trades as long as CYTX is trending above its 50-day at $2.60, and then once it sustains a move or close over $3 to $3.10 with volume that's near or above 253.780 shares. If that breakout triggers soon, then look for CYTX to re-test or possibly take out its next major overhead resistance level at $3.45.
GTX (GTXI) is a biopharmaceutical company dedicated to the discovery, development and commercialization of small molecules that target hormone pathways for the treatment of cancer, cancer supportive care, and other serious medical conditions. This stock is trading up 4.9% at $3.61 in recent trading.
Today's Range: $3.44-$3.66
52-Week Range: $2.34-$6.55
Three-Month Average Volume: 141,756
From a technical perspective, GTXI is jumping higher here back above its 200-day moving average of $3.56 with light volume. This move is quickly pushing GTXI within range of triggering a major breakout trade. That trade will trigger once GTXI takes out some near-term overhead resistance levels at $3.83 to $3.92, and then over some past resistance at $4.07 with high volume.
Traders should now look for long-biased trades in GTXI if it can sustain a move or close above those levels with volume that's near or above 141,756 shares. Traders could also look for long-biased trades in GTXI as long as it's trending above some near-term support at $3.30 a share, and simply anticipate that breakout. If that breakout triggers soon, then GTXI could be well on its way towards filling some of its previous gap down from February that started at around $5.75.
Arena Pharmaceuticals (ARNA) is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing oral drugs that target G protein-coupled receptors (GPCRs), in four therapeutic areas: cardiovascular, central nervous system, inflammatory and metabolic diseases. This stock is trading up 12% at $8.16 in recent trading.
Today's Range: $7.23-$8.18
52-Week Range: $1.23-$13.50
Volume: 14.5 million
Three-Month Average Volume: 23 million
From a technical perspective, ARNA is blasting higher here right off some key near-term support at $6.96 to $7.09 with decent volume. For the past few weeks, shares of ARNA have been consolidating at around $7, after it plunged off its July high of $12.07 with heavy selling volume. This move today could be signaling that ARNA has put in a near-term bottom and is ready to trend significantly higher.
Traders should now look for long-biased trades as long as ARNA is trending above $7, and then once it takes out its 50-day moving average of $9.13 with high volume. Look for a sustained move or close over $9.13 with volume that's near or above 22,959,000 shares. If we get that move soon, then ARNA will have a great chance of re-testing or possibly taking out its next major overhead resistance levels at $10.35 to $11 in the near future.
On the flipside, I would avoid ARNA or look for short-biased trades if it fails to breakout, and then takes out those key support levels at $17.09 to $6.96 with high volume.
Amicus Therapeutics (FOLD) is a biopharmaceutical company focused on the discovery, development and commercialization of orally administered, small molecule drugs known as pharmacological chaperones for treating a range of diseases, including lysosomal storage diseases and diseases of neurodegeneration. This stock is trading up 3.7% at $5.31 in recent trading.
Today's Range: $5.10-$5.42
52-Week Range: $2.10-$7.29
Three-Month Average Volume: 265,905
From a technical perspective, FOLD is moving notably higher here above some near-term overhead resistance at $5.30 with light volume. Shares of FOLD are also challenging its 50-day moving average of $5.32. At last check, FOLD has hit an intraday high of $5.42 and volume so far is well below its three-month average action of 265,905 shares.
Traders should now look for long-biased trades if FOLD can manage to sustain a move or close above $5.32 to $5.42 with high volume. Look for volume that's near or above its three-month average volume of 265,905 shares. If we get that action soon, then FOLD could potentially make a run at its July high of $6.89.
To see more stocks under-$10 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.