4 Biotech Stocks Under $10 With Relative Strength

Dendreon

Dendreon (DNDN) is a biotechnology company focused on the discovery, development and commercialization of therapeutics that may improve cancer treatment options for patients. This stock is trading up 5.9% at $6.58 in recent trading.

Today's Range: $6.19-$7.20

52-Week Range: $5.69-$38.55

Volume: 8.8 million

Three-Month Average Volume: 6.3 million

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From a technical perspective, DNDN is bouncing big here off some near-term support at around $6.09 with heavy volume. Over the past two months, shares of DNDN have found strong buying interest whenever this stock has pulled back towards $6. This move today has briefly pushed DNDN above its 50-day at $7.05, and above some near-term overhead resistance at $6.87. At last check, shares of DNDN have hit an intraday high of $7.20 and volume is well above its three-month average action of 6.3 million shares.

Traders should now look for long-biased trades if DNDN can manage to hold a high-volume trend above its 50-day at $7.05. Look for a move or close above its 50-day with volume that's near or above 6.3 million shares. If we get that action soon, then DNDN will have a great chance of re-testing and possibly taking out its next major overhead resistance level at $7.94. Any high-volume move then through $7.94 will put its 200-day moving average at $9.59 into focus.

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