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TheStreet Open House

4 Stocks Under $10 Showing Strength in a Weak Market

Stocks in this article: RSHRFMDXRSMYRX

Myrexis

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Myrexis (MYRX) is a biopharmaceutical company with a pipeline of differentiated product candidates in oncology and autoimmune diseases. This stock is trading up 2.9% to $2.48 in recent trading.

Today's Range: $2.37-$2.48

52-Week Range: $2.26-$3.32

Volume: 17,900

Three-Month Average Volume: 40,935

From a technical perspective, MYRX is bouncing higher here off some near-term support at $2.35 with light volume. This move is quickly pushing MYRX within range of triggering a near-term breakout trade. That trade will hit once MYRX manages to take out its 50-day at $2.48, and then some near-term overhead resistance at $2.50 with high volume.

Traders should now look for long-biased trades in MYRX once it sustains a move or close above those levels with volume that hits near or above 40,935 shares. If that breakout triggers soon, then MYRX will setup to re-test or possibly take out its next major overhead resistance levels at $2.65 to $2.74. Any high-volume move above those levels will then setup MYRX to trend north of $3 in the near future.

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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