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Stocks Under $10 with 50-100% upside potential - 14 days FREE!

4 Biotech Stocks Under $10 to Watch for Breakout Trades

ArQule (ARQL), a clinical-stage biotechnology company, researches and develops cancer therapeutics. This stock closed up 3.4% to $1.49 in Thursday's trading session.

Thursday's Range: $1.44-$1.54
52-Week Range: $1.29-$2.94
Thursday's Volume: 908,000
Three-Month Average Volume: 567,811

From a technical perspective, ARQL jumped higher here right above some near-term support at $1.40 with above-average volume. This move briefly pushed shares of ARQL back above its 50-day moving average of $1.53, before the stock closed just below that level at $1.49. This move is starting to push shares of ARQL within range of triggering a near-term breakout trade. That trade will hit if ARQL manages to take out some near-term overhead resistance levels at $1.54 to $1.60 with high volume.

Traders should now look for long-biased trades in ARQL as long as it's trending above some near-term support levels at $1.40 or at $1.35 and then once it sustains a move or close above those breakout levels with volume that hits near or above 567,811 shares. If that breakout hits soon, then ARQL will set up to re-test or possibly take out its next major overhead resistance levels at $1.66 to $1.78, or even $1.90 to $2.

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