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8 Stocks Under $10 Moving Higher

Stocks in this article: HNSNMOBIKGNDVAXONCYMEAREEPCX

Dynavax Technologies

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Dynavax Technologies (DVAX) is a biopharmaceutical company that discovers and develops products to prevent and treat infectious diseases, asthma and inflammatory and autoimmune diseases. This stock is trading up 10% at $4.05 in recent trading.

Today's Range: $3.65-$4.21

52-Week Range: $1.75-$3.83

Volume: 7.5 million

Three-Month Average Volume: 1.6 million

Shares of DVAX are soaring today after the company announced that it met with the FDA in a pre-BLA meeting, and Dynavax and the FDA have agreed that in the initial HEPLISAV BLA submission will be for an indication in healthy adults aged 18 to 70. This agreement represents a significant expansion of the previously anticipated population of healthy adults aged 40 and over.

From a technical standpoint, DVAX is starting to trigger a major breakout trade today with the stock moving above some near-term overhead resistance at $3.83 on monster volume. This move has now pushed DVAX into territory not seen since early 2008. The next significant overhead resistance level on DVAX sits at around $6, so as long as this breakout holds, traders should look for $6 to get it soon.

Dynavax shows up on a recent list of 10 Stocks of Top-Performing Funds in 2012 and was one of 13 Biotech Stocks Bought and Sold by Hedge Funds.

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