3 Biotech Stocks Under $5 Moving Higher

Catalyst Pharmaceutical

Catalyst Pharmaceutical (CPRX) is a biopharmaceutical company engaged in the development and commercialization of prescription drugs targeting diseases of the central nervous system, with a focus on the treatment of drug addiction and epilepsy. This stock is trading up 6.1% to 54 cents per share in recent trading.

Today's Range: $0.52-$0.55

52-Week Range: $0.37-$2.27

Volume: 219,000

Three-Month Average Volume: 884,200

From a technical perspective, CPRX is bouncing higher here right off its 50-day moving average of 50 cents per share. This move is quickly pushing shares of CPRX within range of triggering a near-term breakout trade. That trade will hit if CPRX manages to take out some near-term overhead resistance levels at 58 cents to 60 cents with high volume.

Traders should now look for long-biased trades in CPRX as long as it's trending above its 50-day at 50 cents per share and then once it sustains a move or close above those breakout levels with volume that hits near or above 884,200 shares. If that breakout triggers soon, then CPRX will set up to re-test or possibly take out its next major overhead resistance levels which is the gap down day high from last November at 69 cents per share. Any high-volume move above 69 cents per share will then give CPRX a chance to re-fill some of that previous gap down zone that started at $1.50.

Synthetic Biologics

Synthetic Biologics (SYN) is a biotechnology company focused on the development of synthetic DNA-based therapeutics and innovative disease-modifying medicines for serious illnesses. This stock is trading up 2.1% to $1.90 in recent trading.

Today's Range: $1.85-$2.00

52-Week Range: $1.46-$2.95

Volume: 212,000

Three-Month Average Volume: 57,716

From a technical perspective, SYN is bouncing modestly higher here right off its 50-day moving average of $1.80 with heavy upside volume. This stock has been uptrending strong for the last month and change, with shares moving higher from its low of $1.51 to its recent high of $2. During that move, shares of SYN have been mostly making higher lows and higher highs, which is bullish technical price action. That move is now quickly pushing shares of SYN within range of triggering a near-term breakout trade, which will hit if SYN manages to take out its 200-day at $1.96 and then once it clears more resistance levels at $1.99 to $2 and then $2.12 with high volume.

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