8 Stocks Under $10 Making Big Moves

Zalicus

Zalicus (ZLCS) is a biopharmaceutical company that discovers and develops treatments for patients suffering from pain and immuno-inflammatory diseases. This stock is trading up 2% at $1.41 in recent trading.

Today's Range: $1.38-$1.44

52-Week Range: $0.72-$1.62

Volume: 2.3 million

Three-Month Average Volume: 3.2 million

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From a technical perspective, ZLCS is moving modestly higher here with decent volume. This stock has been uptrending strong since it hit a near-term bottom of 95 cents in July, and then went on to hit its recent high of $1.49. Shares of ZLCS spiked large a few days ago to that $1.49 high, and then pulled back to $1.30, but have started to bounce again.

Traders should now look for long-biased trades in ZLCS once it manages to trigger a major breakout above some key overhead resistance levels at $1.49 to $1.62 with high volume. Look for a sustained move or close above those levels with volume that's near or above 3,229,370 shares. If that breakout triggers soon, then ZLCS will have a great chance of re-testing or possibly taking out its next major overhead resistance level at $1.80 to $2. Traders should key off of near-term support levels at $1.30 to $1.20 if you buy off weakness to anticipate that breakout.

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