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4 Biotech Stocks Under $10 Making Moves

DELAFIELD, Wis. ( Stockpickr) -- At Stockpickr, we track daily portfolios of stocks that are the biggest percentage gainers and the biggest percentage losers.

>>5 Stocks Set to Soar on Bullish Earnings

Stocks that are making large moves like these are favorites among short-term traders because they can jump into these names and try to capture some of that massive volatility. Stocks that are making big-percentage moves either up or down are usually in play because their sector is becoming attractive or they have a major fundamental catalyst such as a recent earnings release. Sometimes stocks making big moves have been hit with an analyst upgrade or an analyst downgrade.

Regardless of the reason behind it, when a stock makes a large-percentage move, it is often just the start of a new major trend -- a trend that can lead to huge profits. If you time your trade correctly, combining technical indicators with fundamental trends, discipline and sound money management, you will be well on your way to investment success.

>>5 Trades to Take for October Gains

With that in mind, let's take a closer look at a several stocks under $10 that are making large moves to the upside today.

Immunomedics

Immunomedics ( IMMU) is a biopharmaceutical company focused on the development of monoclonal antibody-based products for the targeted treatment of cancer, autoimmune and other serious diseases. This stock closed up 9.8% to $6.81 in Tuesday's trading session.

Tuesday's Range: $6.30-$6.81
52-Week Range: $2.11-$6.91
Tuesday's Volume: 3.21 million
Three-Month Average Volume: 1.05 million

>>5 Stocks Poised for Breakouts

From a technical perspective, IMMU soared higher here right above some near-term support at $5.93 with monster upside volume. This move pushed shares of IMMU into breakout territory, since the stock took out some near-term overhead resistance levels at $6.39 to $6.70. Shares of IMMU are now quickly moving within range of triggering another big breakout trade. That trade will hit if IMMU manages to clear Tuesday's high of $6.81 and its 52-week high at $6.91 with high volume.

Traders should now look for long-biased trades in IMMU as long as it's trending above $6.39 or above its 50-day at $5.79 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.05 million shares. If that breakout hits soon, then IMMU will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $8 to $10.

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