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4 Biotech Stocks Under $10 Soaring Higher

Sinovac Biotech

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Sinovac Biotech (SVA - Get Report) is an integrated China-based biopharmaceutical company that focuses on the research, development, manufacturing and commercialization of vaccines that protect against infectious diseases. This stock is trading up 9.4% at $2.72 in recent trading.

Today's Range: $2.55-$2.82

52-Week Range: $1.64-$2.88

Volume: 225,000

Three-Month Average Volume: 61,992

>>8 Stocks Ripping Higher on Big Volume

From a technical perspective, SVA is gapping up sharply here with above-average volume, and it's starting to break out above some near-term overhead resistance levels at $2.64 to $2.75.

Traders should now watch for the next major breakout trade to trigger for SVA. That trade will hit once SVA manages to clear some past overhead resistance at $2.88 with high volume. You can look for long-biased trades in SVA as long as it's trending above today's low of $2.56, and then once it sustains a move or close above $2.88 with volume that's near or above 61,992 shares. If that breakout triggers soon, then SVA will setup to re-test or possibly take out its next major overhead resistance at $3.33.

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