3 Stocks Under $5 Making Large Moves to the Upside

Golden Star Resources

Golden Star Resources (GSS) is an international gold mining and exploration company, which produces gold in Ghana, West Africa. It also conducts gold exploration in West Africa and in South America. This stock is trading up 6.7% to $1.97 in recent trading.

Today's Range: $1.85-$1.99

52-Week Range: $0.90-$2.39

Volume: 1.12 million

Three-Month Average Volume: 2.50 million

From a technical perspective, GSS is ripping higher here right off its 50-day moving average of $1.84 with light volume. This move is quickly pushing GSS within range of triggering a major breakout trade. That trade will hit once GSS manages to take out some near-term overhead resistance levels at $2.10 to $2.11 with high volume.

Traders should now look for long-biased trades in GSS as long as it's trending above its 50-day at $1.84, and then once it sustains a move or close above those breakout levels with volume that hits near or above 2.50 million shares. If that breakout triggers soon, then look for GSS to re-test or possibly take out its next major overhead resistance levels at $2.25 to $2.39. If GSS takes out those levels with big volume then $2.78 to $3.12 will be the next potential upside targets.

BioMimetic Therapeutics

BioMimetic Therapeutics (BMTI) develops and commercializes innovative products to help stimulate the body's natural tissue regenerative process. This stock is trading up 6% to $4.04 in recent trading.

Today's Range: $3.83-$4.12

52-Week Range: $1.87-$4.83

Volume: 34,000

Three-Month Average Volume: 76,187

From a technical perspective, BMTI is bouncing strongly to the upside here right around some near-term support at $3.75 with light volume. This move has also pushed BMTI within range of its 50-day moving average of $4.13. At last check, BMTI has hit an intraday high of $4.12 and volume is below its three-month average action of 76,187 shares.

Traders should now look for long-biased trades in BMTI as long as it's trending above its 50-day at $4.13 with strong upside volume flows. I would consider any upside volume day that registers near or above 76,187 shares as bullish. If BMTI can sustain that trend, then this stock will have a great chance to re-test or possibly take out its next major overhead resistance levels at $4.53 to $4.83. Any high-volume move above $4.83 will then put $5.20 to $6 into focus for BMTI.

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