7 Stocks Under $10 Moving Higher

HALO data by YCharts

Halozyme Therapeutics (HALO)

This is a biopharmaceutical company engaged in developing and commercializing innovative products that advance patient care. This stock is trading up 6.4% to $5.39 in recent trading.

Today's Range: $5.17-$5.41

52-Week Range: $3.86-$13.50

Volume: 567,000

Three-Month Average Volume: 827,776

From a technical perspective, HALO is bouncing higher here right off some near-term support at $5 with decent volume. This stock has been downtrending badly for the last two months, with shares falling from $8.65 to its recent low of $4.80. During that downtrend, shares of HALO have been consistently making lower highs and lower lows, which is bearish technical price action.

That said, the stock is now starting to come off its recent low and move within range of triggering a near-term breakout trade. That trade will hit once HALO manages to take out some near-term overhead resistance levels at $5.48 to $5.90 and once it takes out its 50-day moving average of $6.15 with high volume.

Traders should now look for long-biased trades in HALO as long as it's trending above $5, and then once it sustains a move or close above those breakout levels with volume that hits near or above 827,776 shares. If that breakout triggers soon, then HALO will set up to potentially make a run at its 200-day moving average of $8.38.

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