5 Biotech Stocks Under $5 Making Bullish Moves

Anthera Pharmaceuticals

Anthera Pharmaceuticals (ANTH) is a development-stage, biopharmaceutical company focused on developing and commercializing products to treat diseases associated with inflammation. This stock is trading up 11% to $2.79 in recent trading.

Today's Range: $2.50-$2.80

52-Week Range: $1.44-$8.78

Volume: 808,000

Three-Month Average Volume: 475,864

>>7 Stocks Soaring on Monster Volume

From a technical perspective, ANTH is ripping higher here right off some near-term support at $2.50 with monster volume. This move is quickly pushing ANTH within range of triggering a near-term breakout trade. That trade will hit once ANTH takes out some near-term overhead resistance at $2.82 with high-volume.

Traders should now look for long-biased trades if ANTH can sustain a move or close above $2.82 with volume that's near or above 475,864 shares. If we get that action today or soon, then look for ANTH to re-test and possibly take out its gap-down day high from March of $4. Any high-volume move above $4 will then give this stock a great chance to re-fill some of that gap and possibly trade back towards $5 to $6.

Traders should key off that near-term support of $2.50 and look for that level to hold if ANTH is going to have a chance of making a large move higher soon.

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