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4 Biotech Stocks Under $5 Moving Higher

Keryx Biopharmaceuticals

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Keryx Biopharmaceuticals (KERX - Get Report) is a biopharmaceutical company focused on the acquisition, development and commercialization of pharmaceutical products for the treatment of cancer and renal disease. This stock is trading up 4.4% at $2.14 in recent trading.

Today's Range: $2.04-$2.17

52-Week Range: $1.28-$5.19

Volume: 1.2 million

Three-Month Average Volume: 1.15 million

Shares of KERX are moving notably higher today in front of its upcoming presentation at the Stifel Nicolaus 2012 Healthcare Conference on Thursday. The company will also be presenting at Rodman & Renshaw's Annual Global Investment Conference on Sept. 10 and at the UBS Global Life Sciences Conference on Sept. 20.

>>5 Stocks Poised for Big Breakouts

From a technical perspective, KERX is moving higher here right near its 50-day moving average of $1.95 with above average volume. This move is quickly pushing KERX within range of triggering a major breakout trade. That trade will hit once KERX takes out some near-term overhead resistance levels at $2.22 to $2.34, and then its 200-day moving average of $2.44 with high volume.

Traders should now look for long-biased trades in KERX once it sustains a move or close above those levels with volume that's near or above 1,154,840 share. If that breakout triggers soon, then KERX will have a great chance of getting into a previous gap down zone that started above $5.

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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