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8 Stocks Under $10 Surging Higher

Alexza Pharmaceuticals

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Alexza Pharmaceuticals (ALXA - Get Report) is a pharmaceutical company focused on the research, development and commercialization of products for the acute treatment of central nervous system conditions. This stock is trading up 3% to $4.30 in recent trading.

Today's Range: $4.14-$4.40

52-Week Range: $2.55-$14.80

Volume: 435,000

Three-Month Average Volume: 434,406

>>22 Biopharma Stocks With Breakout Potential in 2012

From a technical perspective, ALXA is bouncing higher here right off some near-term support at $4 with above average volume. This move is quickly pushing ALXA within range of triggering a major breakout trade. That trade will hit once ALXA clears some near-term overhead resistance levels at $4.37 to $4.99 with high volume. At last check, ALXA has hit an intraday high of $4.40 and volume is just starting to clock in above its three-month average of 434,406 shares.

Traders should now look for long-biased trades as long as ALXA is trending above its 50-day at $3.72, and then once it sustains a move or close above $4.37 to $4.99 with volume that's near or above 434,406 shares. If that breakout triggers soon, then ALXA will have a great chance of re-filling a previous gap and trending back towards $6 to $7.

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NSPH $4.04 0.00%
ALXA $1.94 0.00%
DSCO $1.24 0.00%
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