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TheStreet Open House

8 Stocks Under $10 Making Big Moves

Stocks in this article: ALIMSPRTDRLDGITCLSVRMLCNITRF

Alimera Sciences

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Alimera Sciences (ALIM) is a biopharmaceutical company that specializes in the research, development and commercialization of prescription ophthalmic pharmaceuticals. This stock is trading up 25% at $3.38 in recent trading.

Today's Range: $3.01-$3.62

52-Week Range: $1.09-$9.28

Volume: 557,000

Three-Month Average Volume: 330,784

>>5 Rocket Stocks Worth Buying This Week

Shares of ALIM are exploding higher today after the company said the Austrian Agency for Health and Food Safety has granted marketing authorization to Iluvien for the treatment of vision impairment associated with chronic diabetic macular edema considered insufficiently responsive to available therapies.

From a technical perspective, ALIM is moving sharply to the upside here back above its 50-day moving average of $3.18 on heavy volume. This stock has also triggered a near-term breakout trade now that it's trending above some overhead resistance at $3 to $3.35.

Traders should now look for long-biased trades as long as ALIM can close above its 50-day and near its daily highs. If we get that action today, then look for ALIM make a run at its next significant near-term overhead resistance levels of $4.08 to $4.43 in the coming days or weeks.

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