5 Biotech Stocks Under $5 Blasting Off

NuPathe

NuPathe (PATH) is a specialty pharmaceutical company focused on the development and commercialization of therapeutics for diseases of the central nervous system, including neurological and psychiatric disorders. This stock is trading up 5.3% at $3.96 in recent trading.

Today's Range: $3.77-$4.00

52-Week Range: $1.52-$5.10

Volume: 48,000

Three-Month Average Volume: 35,861

From a technical perspective, PATH is moving sharply to the upside here right off its 50-day moving average of $3.66 with above average volume. This move is quickly pushing PATH within range of triggering a major breakout trade. That trade will trigger once PATH takes out some near-term overhead resistance levels at $4.10 to $4.25 with high volume.

Traders should now look for long-biased trades once PATH sustains a move or close above those levels with volume that's near or above 35,861 shares. If that breakout triggers soon, then PATH will have an excellent chance of re-testing and possibly taking out its next major overhead resistance level at $5.10.

To see more stocks that are making notable moves higher today, check out the Stocks Under $10 Moving Higher portfolio on Stockpickr.

-- Written by Roberto Pedone in Winderemere, Fla.

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At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on stocks, options, futures, commodities and currencies. He is also an outside contributor to Beconequity.com and maintains the website Maddmoney.net, which he sold to Blue Wave Advisors in 2008. Roberto studied International Business at The Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany.

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