3 Biotech Stocks Under $10 in Breakout Territory: TrovaGene and More

DELAFIELD, Wis. (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.

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 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 under $10 that are making large moves to the upside.

Threshold Pharmaceuticals

Threshold Pharmaceuticals (THLD) , a biotechnology company, discovers and develops therapeutic agents that target tumor cells for the treatment of patients living with cancer in the U.S. This stock is trading up 2.4% to $3.74 a share in Thursday's trading session.

Thursday's Range: $3.68-$3.80
52-Week Range: $2.58-$5.58
Thursday's Volume: 186,000
Three-Month Average Volume: 664,924

From a technical perspective, THLD is bouncing modestly higher here right off its 200-day moving average of $3.69 with lighter-than-average volume. This stock has been uptrending strong for the last three months, with shares moving higher from its low of $2.58 to its recent high of $3.96. During that uptrend, shares of THLD have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of THLD within range of triggering a big breakout trade above some key near-term overhead resistance levels. That trade will hit if THLD manages to take out some key near-term overhead resistance at $3.96 with high volume.

Traders should now look for long-biased trades in THLD as long as it's trending above some key near-term support at $3.50 and then once it sustains a move or close above $3.96 with volume that hits near or above 664,924 shares. If that breakout develops soon, then THLD will set up to re-test or possibly take out its next major overhead resistance levels at $4.50 to $5, or even its 52-week high at $5.58.

TrovaGene

TrovaGene (TROV) develops its proprietary technology for the detection and monitoring of circulating tumor DNA in both urine and blood. Its technology detects and quantitates oncogene mutations in cancer patients for improved disease management. This stock is trading up 2.3% to $5.99 in Thursday's trading session.

Thursday's Range: $5.70-$6.00
52-Week Range: $2.97-$7.10
Thursday's Volume: 33,000
Three-Month Average Volume: 95,944

From a technical perspective, TROV is spiking modestly higher here right above some key near-term support levels at $5.50 to $5.25 with lighter-than-average volume. This stock has been consolidating and trending sideways for the last month, with shares moving between $5.25 on the downside and $6.39 on the upside. Shares of TROV are now starting to trend within range of triggering a big breakout trade above the upper-end of its recent sideways trading chart pattern. That trade will hit if TROV manages to take out some near-term overhead resistance levels at $6.25 to $6.34 and then $6.39 with high volume.

Traders should now look for long-biased trades in TROV as long as it’s trending above some key near-term support levels at $5.55 or at $5.25 and then once it takes out those breakout levels with volume that hits near or above 95,944 shares. If that breakout triggers soon, then TROV will set up to re-test or possibly take out its next major overhead resistance levels at its 52-week high of $7.10 to $8.50.

Apricus Biosciences

Apricus Biosciences (APRI) is a biopharmaceutical company advancing medicines in urology and rheumatology. This stock is trading u 9% to $1.45 in Thursday's trading session.

Thursday's Range: $1.33-$1.50
52-Week Range: $0.92-$2.63
Thursday's Volume: 416,000
Three-Month Average Volume: 266,623

From a technical perspective, APRI is gapping up sharply higher here right above its 50-day moving average of $1.21 with strong upside volume flows. This big spike to the upside is now quickly pushing shares of APRI within range of triggering a near-term breakout trade. That trade will hit if APRI manages to take out some key near-term overhead resistance levels at $1.65 to $1.70 and then once it clears its 200-day moving average at $1.75 with high volume.

Traders should now look for long-biased trades in APRI as long as it's trending above Thursday's intraday low of $1.33 and then once it sustains a move or close above those breakout levels with volume that hits near or above 266,623 shares. If that breakout triggers soon, then APRI will set up to re-test or possibly take out its next major overhead resistance levels at $1.96 to $2, or even $2.15.

-- Written by Roberto Pedone in Delafield, Wis.

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At the time of publication, author had no positions in stocks mentioned. Roberto Pedone, based out of Delafield, Wis., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.

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