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3 Biotech Stocks Under $10 Surging Higher

SciClone Pharmaceuticals

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SciClone Pharmaceuticals (SCLN - Get Report), a specialty pharmaceutical company, has a product portfolio of therapies for oncology, infectious diseases, cardiovascular, urological, respiratory and central nervous system disorders. This stock is trading up 15.4% to $5.89 in recent trading.

Today's Range: $5.35-$5.94

52-Week Range: $3.41-$7.58

Volume: 1.15 million

Three-Month Average Volume: 628,371

>>Hot Biotech Stocks Traded by Hedge Funds

From a technical perspective, SCLN is ripping to the upside here back above its 200-day moving average of $5.46 with monster volume. This move is quickly pushing the stock within range of triggering a near-term breakout trade. That trade will hit once SCLN takes out some near-term overhead resistance at $6.04 with high volume.

Traders should now look for long-biased trades once SCLN sustains a move or close above $6.04 with volume that's near or above 628,371 shares. If we get that action soon, then look for SCLN to re-test and possibly take out its 50-day moving average of $6.43. If that 50-day gets taken out with volume soon, then SCLN has a great chance of hitting its July high of $7.58.

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