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4 Biotech Stocks Under $10 Moving Higher

Neostem

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Neostem (NBS) is a provider of adult stem cell collection, processing and storage services in the U.S., enabling healthy individuals to donate and store their stem cells for personal therapeutic use. This stock closed up 4% to 75 cents per share in recent trading.

Thursday's Range: $0.71-$0.77

52-Week Range: $0.30-$0.90

Volume: 3.4 million

Three-Month Average Volume: 1.15 million

>>5 Stocks Under $10 Set to Soar

From a technical perspective, NBS spiked higher right off its 50-day moving average of 69 cents with monster upside volume. This move also pushed NBS into breakout territory, since the stock flirted with some near-term overhead resistance at 74 cents to 75 cents per share.

Traders should now look for long-biased trades in NBS as long as its trending above its 50-day and then once it sustains a move or close above some more overhead resistance levels at 80 to 85 cents per share with high volume. Look for volume on that move that registers near or above its three-month average action of 1.15 million shares. If that breakout triggers soon, then look for NBS to re-test or possibly take out its next major overhead resistance levels at 90 cents to 96 cents, and possibly even $1 to $1.20.

Due to the large upside volume spike and positive price action on Thursday, this stock will have an increased probability of trading north of $1 if that breakout hits soon.
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