4 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.
BioTime (BTX) is engaged in the business of developing blood plasma volume expanders and related products as well as stem-cell-related products and technology for diagnostic, therapeutic and research use. This stock closed up 1.4% to $4.22 on Wednesday.
Wednesday's Range: $4.16-$4.28
52-Week Range: $2.67-$5.51
Three-Month Average Volume: 233,430
From a technical perspective, BTX bounced higher here right above both its 50-day and 200-day moving averages at $4.06 with above-average volume. This move is quickly pushing shares of BTX within range of triggering a major breakout trade. That trade will hit if BTX manages to take out some near-term overhead resistance at $4.35 with high volume.
Traders should now look for long-biased trades in BTX as long as it's trending above $4.06, and then once it sustains a move or close above $4.35 with volume that hits near or above 233,430 shares. If that breakout hits soon, then BTX will set up to re-test or possibly take out its next major overhead resistance levels at $4.81 to $4.95 or at $5.02 to $5.07. Any high-volume move above those levels could then send BTX towards $6.
Arrowhead Research (ARWR) is a development stage nanotechnology holding company that forms, acquires, and operates subsidiaries commercializing innovative nanotechnologies. This stock closed up 9% to $2.04 on Wednesday.
Wednesday's Range: $1.88-$2.10
52-Week Range: $1.75-$7.31
Three-Month Average Volume: 76,641
From a technical perspective, ARWR spiked higher here and briefly touched its 50-day moving average of $2.08 with above-average volume. This stock has been downtrending for the last month and change, with shares dropping from $2.37 to its recent low of $1.75. During that move, shares of ARWR have been mostly making lower highs and lower lows, which is bearish technical price action.