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3 Stocks Under $10 Making Big Moves

Amicus Therapeutics

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Amicus Therapeutics (FOLD - Get Report) is a biopharmaceutical company focused on the discovery, development and commercialization of orally administered, small molecule drugs known as pharmacological chaperones for treating a range of diseases, including lysosomal storage diseases and diseases of neurodegeneration. This stock is trading up 9.6% to $5.67 in recent trading.

Today's Range: $5.45-$6.15

52-Week Range: $2.10-$7.29

Volume: 1.3 million

Three-Month Average Volume: 241,632

>>5 Stocks Poised for Breakouts

From a technical perspective, FOLD is gapping up sharply here back above its 50-day and 200-day moving averages with heavy volume. This move has briefly pushed FOLD into breakout territory, since the stock has flirted with some near-term overhead resistance at $5.74. At last check, FOLD has hit an intraday high of $6.15 but it has subsequently pulled back to around $5.60.

Traders should now look for long-biased trades in FOLD as long as its trending above $5.74 to today's high of $6.15 with strong upside volume flows. I would consider any upside volume day that registers near or above 241,632 shares as bullish. If FOLD can maintain that trend, then look for this stock to re-test or possibly take out its next significant overhead resistance levels at $6.89 to $7.29, and possibly $8 to $8.12 in the near future.

Amicus was included in a list of 22 Biopharma Stocks With Breakout Potential in 2012.

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