5 Biotech Stocks Under $10 Set to Soar
Another under-$10 that looks poised for higher prices here is Sequenom (SQNM), which provides products, services, diagnostic testing, applications, and genetic analysis products that translate the results of genomic science into solutions for biomedical research, translational research, molecular medicine applications and agricultural and livestock research. This stock is off to a slow start in 2012, with shares down by around 12% so far.
If you take a look at the chart for Sequenom, you'll notice that this stock has been crushed by the bears since early May, when the stock dumped from a high of $5.83 to a recent low of $3.45 a share. During that sharp move lower, shares of SQNM have consistently made lower highs and lower lows, which is bearish technical price action. That said, shares of SQNM have now started to make higher lows and some higher highs, as the stock as rebounded off that $3.45 low. That recent rebound, and possible trend change, is quickly pushing SQNM within range of triggering a near-term breakout trade.
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