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8 Stocks Under $10 Skyrocketing Higher

Transcept Pharmaceuticals

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Transcept Pharmaceuticals (TSPT - Get Report) is a specialty pharmaceutical company focused on the development and commercialization of products that address therapeutic needs in the field of neuroscience. This stock is trading up 6.3% to $6.63 in recent trading.

Today's Range: $6.31-$6.63

52-Week Range: $2.58-$12.99

Volume: 235,000

Three-Month Average Volume: 267,603

>>22 Biopharma Stocks With Breakout Potential in 2012

From a technical perspective, TSPT looks like it has formed a major bottom on the chart at around $5.81 to $6.00 during in the last month. This stock is now ripping to the upside here with decent volume, and its quickly moving within range of a major breakout trade. That trade will trigger once TSPT takes out its 50-day moving average of $6.71, and then some more overhead resistance at $6.73 with high volume.

Traders should now look for long-biased trades once TSPT sustains a move or close above those levels with volume that's near or above 267,603 shares. If that breakout triggers today or soon, then TSPT will setup to re-test and possibly take out its next major overheard resistance levels at $7.45 to its 200-day moving average at $8.02. Keep in mind that TSPT needs to maintain a high-volume trend over its 50-day to give it a chance to tag those targets soon.

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OCZ $0.00 0.00%
ARRY $6.73 -6.40%
JOEZ $0.17 0.17%
TSPT $27.01 -6.44%
SWC $13.51 3.52%


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