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5 Biotech Stocks Under $5 Making Bullish Moves - 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 upgrade.
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 five biotech stocks under $5 that are making large moves to the upside today.
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MannKind (MNKD) is a development-stage biopharmaceutical company focused on the discovery, development and commercialization of therapeutic products for diseases such as diabetes and cancer. This stock is trading up 9.5% to $2.19 in recent trading.
Today’s Range: $2.04-$2.25
52-Week Range: $1.57-$4.30
Volume: 3 million
Three-Month Average Volume: 1.4 million
From a technical perspective, MNKD is following through with some momentum buying today, after the stock took out its 50-day moving average of $1.94 on Wednesday. This move today is coming with above average volume, and is quickly pushing MNKD within range of a near-term breakout trade.
Traders should now look for long-biased trades if MNKD can manage to take out some near-term overhead resistance at $2.35 to $2.59 with high-volume. Look for a sustained move or close above those levels with volume that’s near or above 1.4 million shares. If we get that action soon, then MNKD easily re-test and possibly take out its January high of $3.48. Traders should now key off the $2 level for near-term support that needs to hold up for this stock to have a chance at breaking out soon.
Cleveland BioLabs (CBLI) is a biotechnology company focused on developing biodefense, tissue protection and cancer treatment drugs based on the concept of modulation of cell death for therapeutic benefit. This stock is trading up 2.8% to $1.78 in recent trading.
Today’s Range: $1.77-$2.00
52-Week Range: $1.15-$4.06
Three-Month Average Volume: 285,275
Shares of CBLI are ripping higher today after the company announced the results of new studies demonstrating potentially curative effects of CBL0137, in combination with chemotherapy in animal models of neuroblastoma.
From a technical perspective, CBLI is bouncing modestly here off some near-term support at $1.70 with above-average volume. At last check, this stock has hit an intraday high of $2.00, but it has since pulled back to its current price near $1.80. This move is now pushing CBLI within range of a near-term breakout trade. That trade will hit once CBLI takes out some near-term overhead resistance at $1.88 to $2.07 with high volume.
Traders should look for long-biased trades once CBLI sustains a move or close above those levels with volume that’s near or above 285,275 shares. If we get that action soon, then I would look for the next major breakout trade to trigger once CBLI takes out $2.40 to its 200-day moving average of $2.58.
BioMimetic Therapeutics (BMTI) is a biotechnology company. The company develops and commercializes products to promote the healing of musculoskeletal injuries and diseases, including orthopedic, sports medicine and spine applications. This stock is trading up 8.8% at $2.94 in recent trading.
Today’s Range: $2.65-$3.15
52-Week Range: $1.87-$5.59
Three-Month Average Volume: 151,214
From a technical perspective, BMTI is skyrocketing here back above its 200-day moving average of $2.66 with heavy volume. This move has now triggered a near-term breakout trade above $2.69 to $2.78, and this stock is flirting with an even bigger breakout trade. That bigger trade will hit once BMTI takes out some past overhead resistance at $3.01 to $3.20 with high-volume. At last check, shares of BMTI have hit an intraday high of $3.15, but it has since pulled back to its current price just under $3.
Traders should now look for long-biased trades if BMTI can sustain a move or close above $3.01 to $3.20 with volume that’s near or above 151,214 shares. If we get that action today or soon, look for BMTI to re-test and possibly take out its next significant overhead resistance levels at $3.75 to $4.20.
Anthera Pharmaceuticals (ANTH) is a development-stage, biopharmaceutical company focused on developing and commercializing products to treat diseases associated with inflammation. This stock is trading up 11% to $2.79 in recent trading.
Today’s Range: $2.50-$2.80
52-Week Range: $1.44-$8.78
Three-Month Average Volume: 475,864
From a technical perspective, ANTH is ripping higher here right off some near-term support at $2.50 with monster volume. This move is quickly pushing ANTH within range of triggering a near-term breakout trade. That trade will hit once ANTH takes out some near-term overhead resistance at $2.82 with high-volume.
Traders should now look for long-biased trades if ANTH can sustain a move or close above $2.82 with volume that’s near or above 475,864 shares. If we get that action today or soon, then look for ANTH to re-test and possibly take out its gap-down day high from March of $4. Any high-volume move above $4 will then give this stock a great chance to re-fill some of that gap and possibly trade back towards $5 to $6.
Traders should key off that near-term support of $2.50 and look for that level to hold if ANTH is going to have a chance of making a large move higher soon.
Cytori Therapeutics (CYTX) develops, manufactures, and sells medical products and devices to enable the practice of regenerative medicine. Cytori’s technology is the Celuion family of products, which processes patients’ adipose-derived stem and regenerative cells (ADRCs) at the point of care. This stock is trading up 3% at $2.59 in recent trading.
Today’s Range: $2.50-$2.65
52-Week Range: $1.90-$5.72
Three-Month Average Volume: 333,892
From a technical perspective, CYTX is moving notably higher here on light volume as the stock bounces off some near-term support at $2.40. This move is quickly pushing CYTX within range of triggering a near-term breakout trade. That trade will hit once CYTX takes out some near-term overhead resistance at $2.60, and then its 200-day moving average of $2.71 with high volume.
Traders should now look for long-biased trades if CYTX can sustain a move or close above those levels with volume that’s near or above 333,892 shares. If we get that action today or soon, then look for CYTX to possibly re-test and take out its next significant overhead resistance levels at just over $3.20 to $3.45. Traders should make note of the fact that this stock is currently trending above its 50-day at $2.29, which is bullish 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 stocks, options, futures, commodities and currencies. He is also an outside contributor to Beconequity.com and maintains the website Maddmoney.net, which he sold to Blue Wave Advisors in 2008. Roberto studied International Business at The Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany.