8 Stocks Under $10 Moving Higher

CytRx

CytRx (CYTR) is a biopharmaceutical research and development company specializing in oncology. This stock closed up 9.9% to $2.10 on Thursday.

Thursday's Range: $1.94-$2.14

52-Week Range: $1.59-$5.50

Volume: 251,000

Three-Month Average Volume: 171,579

Shares of CYTR blasted higher on Thursday after the company said its enrollment of 140 evaluable patients has been completed in its global phase 2b clinical trial with its oral retinoid compound tamibarotene in combination with chemotherapeutic agents as a first-line treatment for patients with advanced non-small-cell lung cancer.

From a technical perspective, CYTR surged higher back above its 50-day moving average of $2.07 with above-average volume. This move is quickly pushing shares of CYTR within range of triggering a major breakout trade. That trade will hit if CYTR manages to take out some near-term overhead resistance levels at $2.20 to $2.30 and then once it clears more resistance at $2.42 to $2.60 with high volume.

Traders should now look for long-biased trades in CYTR as long as it's trending above its 50-day at $2.07 and then once it sustains a move or close above those breakout levels with volume that hits near or above 171,579 shares. If that breakout triggers soon, then CYTR will set up to re-fill some of its previous gap down zone from last October that started at $3.60.

BioFuel

BioFuel (BIOF) is engaged in the production and sale of ethanol and its co-products through its two ethanol production facilities located in Nebraska and Minnesota. This stock closed up 7.9% to $5.05 on Thursday.

Thursday's Range: $4.69-$5.19

52-Week Range: $2.07-$17.40

Volume: 306,000

Three-Month Average Volume: 228,590

From a technical perspective, BIOF ripped higher here right off some near-term support at $4.58 and back above both its 50-day at $4.58 and its 200-day at $4.80 with above-average volume. This move is quickly pushing shares of BIOF within range of triggering a near-term breakout trade. That trade will hit if BIOF manages to take out some near-term overhead resistance levels at $5.50 to $5.70 with high volume.

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