8 Stocks Under $10 Loved by the Bulls

Galena Biopharma

Galena Biopharma (GALE) is a biotechnology company focused on discovering, developing and commercializing therapies addressing unmet medical needs using RNAi-targeted and immunotherapy technologies. This stock is trading up 24% at $1.60 in recent trading.

Today's Range: $1.33-$1.64

52-Week Range: $0.36-$3.54

Volume: 5.6 million

Three-Month Average Volume: 3.3 million

>>22 Biopharma Stocks With Breakout Potential

From a technical perspective, GALE is bouncing big here right off its 50-day moving average of $1.38 with heavy volume. This move is quickly pushing GALE within range of triggering a near-term breakout trade. That trade will hit once GALE takes out some near-term overhead resistance at $1.60 to $1.63 with high volume.

Traders should now look for long-biased trades if GALE can sustain a move or close above those levels with volume that's near or above 3.3 million shares. If we get that action today or soon, then look for GALE to continue its uptrend towards its next significant overhead resistance levels at $1.88 to $2. Keep in mind that it's also possible for this stock to hit $2.45 if it takes out $1.88 with heavy volume.

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