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4 Biotech Stocks Under $10 Moving Higher

BioTime

BioTime (BTX) is engaged in the business of developing blood plasma volume expanders and related products as well as stem-cell-related products and technology for diagnostic, therapeutic and research use. This stock closed up 1.4% to $4.22 on Wednesday.

Wednesday's Range: $4.16-$4.28

52-Week Range: $2.67-$5.51

Volume: 330,000

Three-Month Average Volume: 233,430

>>5 Health Care Stocks Triggering 'Buys'

From a technical perspective, BTX bounced higher here right above both its 50-day and 200-day moving averages at $4.06 with above-average volume. This move is quickly pushing shares of BTX within range of triggering a major breakout trade. That trade will hit if BTX manages to take out some near-term overhead resistance at $4.35 with high volume.

Traders should now look for long-biased trades in BTX as long as it's trending above $4.06, and then once it sustains a move or close above $4.35 with volume that hits near or above 233,430 shares. If that breakout hits soon, then BTX will set up to re-test or possibly take out its next major overhead resistance levels at $4.81 to $4.95 or at $5.02 to $5.07. Any high-volume move above those levels could then send BTX towards $6.

Arrowhead Research

Arrowhead Research (ARWR) is a development stage nanotechnology holding company that forms, acquires, and operates subsidiaries commercializing innovative nanotechnologies. This stock closed up 9% to $2.04 on Wednesday.

Wednesday's Range: $1.88-$2.10

52-Week Range: $1.75-$7.31

Volume: 327,000

Three-Month Average Volume: 76,641

From a technical perspective, ARWR spiked higher here and briefly touched its 50-day moving average of $2.08 with above-average volume. This stock has been downtrending for the last month and change, with shares dropping from $2.37 to its recent low of $1.75. During that move, shares of ARWR have been mostly making lower highs and lower lows, which is bearish technical price action.

That said, ARWR has started to rebound sharply off that $1.75 low and is quickly moving within range of triggering a major breakout trade. That trade will hit if ARWR manages to take out some near-term overhead resistance levels at $2.18 to $2.24 and then once it clears more resistance at $2.37 with high volume.

Traders should now look for long-biased trades in ARWR as long as it's trending above its 50-day at $2.08 and then once it sustains a move or close above those breakout levels with volume that hits near or above 76,641 shares. If that breakout triggers soon, then ARWR will set up to re-test or possibly take out its next major overhead resistance level at $2.97.

Threshold Pharmaceuticals

Threshold Pharmaceuticals (THLD) is a biotechnology company focused on the discovery and development of drugs targeting the microenvironment of solid tumors as novel treatments for patients living with cancer. This stock closed up 10.9% to $4.95 on Wednesday.

Wednesday's Range: $4.71-$5.13

52-Week Range: $3.95-$9.28

Volume: 2.79 million

Three-Month Average Volume: 872,670

Shares of THLD ripped higher on Wednesday after Piper Jaffray upgraded the stock to overweight from neutral, citing its TH-302 opportunity. The firm raised its price target on the stock to $10 from $5 per share.

From a technical perspective, THLD exploded higher here right off its 50-day moving average of $4.48 with heavy upside volume. This move also pushed shares of THLD into breakout territory, since the stock cleared some near-term overhead resistance at $4.75. Shares of THLD are now starting to move within range of triggering another big breakout trade. That trade will hit if THLD manages to take out some near-term overhead resistance levels at $5.54 to its 200-day moving average at $6.02.

Traders should now look for long-biased trades in THLD as long as it's trending above $4.75 to $4.71 and then once it sustains a move or close above those breakout levels with volume that hits near or above 872,670 shares. If that breakout triggers soon, then THLD will set up to re-test or possibly take out its next major overhead resistance levels at $6.50 to $7.

Pluristem Therapeutics

Pluristem Therapeutics (PSTI) is a bio-therapeutics company dedicated to the commercialization of non-personalized cell therapy products for the treatment of several severe degenerative, ischemic and autoimmune disorders. This stock closed up 1% to $3.33 on Wednesday.

Wednesday's Range: $3.18-$3.54

52-Week Range: $2.02-$5.00

Volume: 962,000

Three-Month Average Volume: 249,302

From a technical perspective, PSTI spiked higher here and briefly traded back above both its 200-day at $3.33 and its 50-day at $3.34 with above-average volume. Shares of PSTI hit an intraday high of $3.54, and volume was well above its three-month average action of 249,302 shares. This spike is quickly pushing PSTI within range of triggering a near-term breakout trade. That trade will hit if PSTI manages to take out some near-term overhead resistance levels at $3.37 to $3.52 and then once it clears more resistance at $3.68 with high volume.

Traders should now look for long-biased trades in PSTI as long as it's trending above Wednesday's low of $3.18 and then once it sustains a move or close above those breakout levels with volume that hits near or above 249,302 shares. If that breakout triggers soon, then PSTI will set up to re-test or possibly take out its next major overhead resistance levels at $3.95 to $4.10 or at $4.17 to $4.28.

To see more stocks 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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Stock quotes in this article: PSTI, THLD, BTX, ARWR 

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 technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.

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