This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

4 Under-$10 Biotech Stocks in Breakout Territory

OncoGenex Pharmaceuticals

OncoGenex Pharmaceuticals (OGXI - Get Report) , a biopharmaceutical company, develops and commercializes therapies that address treatment resistance in cancer patients. This stock closed up 4% to $3.38 in Tuesday's trading session.

Tuesday's Range: $3.25-$3.39
52-Week Range: $2.86-$14.25
Tuesday's Volume: 268,000
Three-Month Average Volume: 211,778

From a technical perspective, OGXI ripped higher here right off its 50-day moving average of $3.29 with above-average volume. This move is quickly pushing shares of OGXI within range of triggering a near-term breakout trade. That trade will hit if OGXI manages to take out some key near-term overhead resistance at $3.45 with high volume.

Traders should now look for long-biased trades in OGXI as long as it's trending above some near-term support around $3 and then once it sustains a move or close above $3.45 with volume that hits near or above 211,778 shares. If that breakout kicks off soon, then OGXI will set up to re-test or possibly take out its next major overhead resistance levels $3.84 to $4.33. Any high-volume move above those levels will then give OGXI a chance to make a run at $5.

2 of 5


DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%