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TheStreet Open House

4 Biotech Stocks Under $10 Making Big Moves

Stocks in this article: TSRXPTIEAPPYCYCC

Cyclacel Pharmaceuticals

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Cyclacel Pharmaceuticals (CYCC) is a development-stage biopharmaceutical company engaged in the discovery, development and commercialization of mechanism-targeted drugs to treat human cancers and other serious disorders. This stock is trading up 7.8% to $4.10 in recent trading.

Today's Range: $3.78-$4.18

52-Week Range: $2.52-$6.16

Volume: 38,000

Three-Month Average Volume: 17,572

>>5 Big Stocks Set to Slingshot Higher

From a technical perspective, CYCC is ripping higher here with above-average volume. This move has started to push CYCC above its 200-day moving average of $3.97, and it's moving CYCC within range of triggering a major breakout trade. That trade will hit once CYCC takes out some near-term overhead resistance levels at $4.06 to $4.20 with high volume.

Traders should now look for long-biased traders in CYCC as long as it's trending above its 50-day at $3.60, and then once it sustains a move or close above those breakout levels with volume that's near or above 17,572 shares. If that breakout triggers soon, then CYCC will have an excellent chance of re-testing or possibly taking out its next major overhead resistance levels at $4.76 to $5. Any high-volume move above $5 would then setup CYCC to challenge more overhead resistance around $5.39 to $5.59

To see more stocks under-$10 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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