DELAFIELD, Wis. (Stockpickr) -- These health care stocks under $10 were trading higher on Wednesday. Here's how to trade them now.
OvaScience (OVAS), a life sciences company, is engaged in the discovery, development and commercialization of new treatments for infertility. This stock closed up 5.5% to $9.50 a share in Wednesday's trading session.
Wednesday's Range: $9.08-$9.53
52-Week Range: $8.14-$16.00
Thursday's Volume: 72,000
Three-Month Average Volume: 31,287
From a technical perspective, OVAS surged sharply higher here back above its 50-day moving average of $9.29 with above-average volume. This stock recently formed a major bottoming chart pattern after the stock found support at $8.37 to $8.41, which was just above some previous support levels at $8.31 to $8.14. Market Shares of OVAS have now started to spike higher above those key support levels. Market players should look for a continuation move higher in the short-term if OVAS takes out Wednesday's high of $9.53 with strong volume.
Traders should now look for long-biased trades in OVAS as long as it's trending above Wednesday's low of $9.08 and then once it sustains a move or close above $9.53 with volume that hits near or above 31,287 shares. If we get that move soon, then OVAS will set up to re-test or possibly take out its next major overhead resistance levels $10.05 to $10.41 or $10.65 to its 200-day moving average of $10.96.