3 Biotech Stocks Under $10 Moving Higher
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.
Amicus Therapeutics (FOLD) is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of a new class of orally administered, small molecule drugs, for the treatment of a range of human genetic diseases. This stock is trading up 5.1% to $3.90 in recent trading.
Today's Range: $3.65-$3.92
52-Week Range: $2.47-$7.18
Three-Month Average Volume: 1.25 million
From a technical perspective, FOLD is ripping higher here right off some near-term support at $3.62 with lighter-than-average volume. This move is quickly pushing shares of FOLD within range of triggering a major breakout trade. That trade will hit if FOLD manages to clear some near-term overhead resistance levels at $3.92 to $4.27 with high volume.
Traders should now look for long-biased trades in FOLD as long as it's trending above $3.62 to $3.47, and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.25 million shares. If that breakout hits soon, then FOLD will set up to re-fill some of its previous gap down zone from December that started near $6. The first price target objective if FOLD gets into that gap is its 200-day moving average of $4.92.
Threshold Pharmaceuticals (THLD) is a biotechnology company focused on the discovery and development of drugs targeting the microenvironment of solid tumors as novel treatments for patients living with cancer. This stock is trading up 3.5% to $4.56 in recent trading.
Today's Range: $4.40-$4.59
52-Week Range: $2.90-$9.28