Traders should now look for long-biased trades in BIOF as long as it's trending above its 50-day at $4.58 and then once it sustains a move or close above those breakout levels with volume that hits near or above 228,590 shares. If that breakout triggers soon, then BIOF will set up to re-test or possibly take out its next major overhead resistance levels at $6 to $7.25.
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.
Twitter and become a fan on Facebook. 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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