3 Biotech Stocks Under $5 Moving Higher

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

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.

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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.

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

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Siga Technologies

Siga Technologies ( SIGA) is a biotechnology company engaged in the development and commercialization of pharmaceutical solutions for some of the most lethal disease-causing pathogens in the world, including smallpox, Ebola, dengue and Lassa fever. This stock is trading up 7.3% to $3.21 in recent trading.

Today's Range: $3.00-$3.21

52-Week Range: $2.20-$3.89

Volume: 340,000

Three-Month Average Volume: 176,071

From a technical perspective, SIGA is ripping higher here right above it 200-day moving average of $2.88 with above-average volume. This move has started to push shares of SIGA into breakout territory, since the stock has cleared some near-term overhead resistance levels at $3.03 to $3.17.

Traders should now look for long-biased trades in SIGA as long as it's trending above $3.03 or $3.17 with strong upside volume flows. I would consider any upside volume day that registers near or above its three-month average action of 17,071 shares. If SIGA can maintain that trend, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $3.38 to $3.57. Any high-volume move above $3.57 will then put $3.70 to $3.89 into focus for shares of SIGA.

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