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7 Stocks Under $10 Streaking Higher

Zogenix (ZGNX - Get Report)

This is a specialty pharmaceutical company with two product candidates in late-stage development for the treatment of central nervous system disorders and pain. This stock is up 10.2% to $2.05 in recent trading.

Today's Range: $1.87-$2.08
52-week Range: $1.31-$5.11
Volume: 323,000
Three-Month Average Volume: 305,806

Shares of ZGNX are soaring today after the company said Mallinckrodt LLC, the pharmaceuticals business of Covidien (COV), announced an exclusive co-promotion agreement for SUMAVEL DosePro (sumatriptan injection) Needle-free Delivery System in the United States.

From a technical perspective, ZGNX is bouncing right off its 50-day moving average here with above-average volume. This move is quickly pushing ZGNX within range of triggering a major breakout trade. That trade will hit once ZGNX takes out its 200-day moving average of $2.15, and then some past overhead resistance at $2.28 with high volume.

Traders should now look for long-biased trades, if ZGNX can sustain a move or close above those levels with volume that's near or above 305,806 shares. If we get that action soon, then look for ZGNX to fill a previous gap down and possibly hit its March high of $2.90.

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ZLCS $5.39 0.00%
ZGNX $10.28 -0.48%
ANTH $3.56 -0.28%
HDSN $3.53 2.32%
NOAH $25.13 -0.79%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

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