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2 Biotech Stocks Under $10 to Watch

Stocks in this article: CLSNMSTX

Mast Therapeutics

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Mast Therapeutics ( MSTX), a biopharmaceutical company, develops novel therapies for serious or life-threatening diseases with significant unmet needs. This stock closed up 2% to 48 cents per share in Thursday's trading session.

Thursday's Range: $0.46-$0.49
52-Week Range: $0.41-$0.92
Volume: 3.52 million
Three-Month Average Volume: 732,059

Shares of MSTX spiked modestly higher on Thursday after Vista Partners updated coverage on the stock with a 12-month price target of $2.25 per share.

>>5 Stocsk Insiders Love Right Now

From a technical perspective, MSTX trended slightly higher here right above some near-term support at 44 cents per share with monster upside volume. This stock has been trending sideways for the last month and change, after it gapped down sharply in June from around 65 cents per share to its 52-week low of 41 cent per share. That sideways chart pattern has seen MSTX trend between 41 cents on the downside and 50 cents on the upside. Shares of MSTX are now quickly moving within range of triggering a major breakout trade above the upper-end of its sideways trading chart pattern. That trade will hit if MSTX manages to take out some near-term overhead resistance levels at 49 to 50 cents per share with high volume.

Traders should now look for long-biased trades in MSTX as long as it's trending above some near-term support levels at 44 cents to 42 cents, and then once it sustains a move or close above those breakout levels with volume that hits near or above 732,059 shares. If that breakout triggers soon, then MSTX will set up to re-fill its previous gap down zone from June that started near 65 cents per share. If that gap gets filled, then MSTX could hit 75 to 80 cents.

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