3 Biotech Stocks Under $10 to Trade for Breakouts

DELAFIELD, Wis. (Stockpickr) -- As part of your daily routine as an active trader or investor, it's important to track the stocks in the market that are making the biggest percentage gains and the biggest percentage losses.

Stocks that are making large moves to the upside are favorites among short-term traders who want to capture some of that massive volatility. Stocks that are making big-percentage moves 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.

iBio

iBio  (IBIO), a biotechnology company, focuses on the commercialization of its proprietary plant-based protein expression technologies in the U.S. and internationally. This stock is trading up 5.1% to $1.01 in Thursday's trading session.

Thursday's Range: $0.97-$1.04
52-Week Range: $0.38-$3.48
Thursday's Volume: 458,000
Three-Month Average Volume: 1.29 million

From a technical perspective, iBio is ripping higher here right above its 50-day moving average of 94 cents per share with decent upside volume flows. This stock has been uptrending over the last three months and change, with shares moving higher from its low of 65 cents per share to its recent high of $1.27. During that uptrend, shares of iBio have been making mostly higher lows and higher highs, which is bullish technical price action. This spike higher on Thursday is now starting to push iBio within range of triggering a major breakout trade. That trade will trigger if this stock manages to take out some near-term overhead resistance levels at $1.08 to $1.09 with high volume.

Traders should now look for long-biased trades in iBio as long as it's trending above its 50-day moving average of 94 cents per share or above more near-term support at 91 cents per share and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.29 million shares. If that breakout hits soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $1.27 to $1.32, or even $1.41 to $1.50 a share.

CTI BioPharma

CTI BioPharma  (CTIC), a biopharmaceutical company, engages in the acquisition, development and commercialization of novel targeted therapies for blood-related cancers in the U.S. and internationally. This stock is trading up 3.1% to $2.17 in Thursday's trading session.

Thursday's Range: $2.10-$2.18
52-Week Range: $1.65-$3.11
Thursday's Volume: 1.66 million
Three-Month Average Volume: 3.23 million

From a technical perspective, CTI BioPharma is ripping notably higher here and starting to break out above some key near-term overhead resistance at $2.15 with decent upside volume flows. This spike to the upside is now starting to push shares of CTI BioPharma within range of triggering a much bigger breakout trade. That trade will hit if this stock manages to take out its 200-day moving average of $2.20 a share with high volume.

Traders should now look for long-biased trades in CTI BioPharma as long as it's trending above some key near-term support at $1.97 or above more key support at its 50-day moving average of $1.90 and then once it sustains a move or close above its 200-day moving average of $2.20 with volume that hits near or above 3.23 million shares. If that breakout triggers soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $2.46 to $2.70 a share, or even $2.94 a share.

Repros Therapeutics

Repros Therapeutics  (RPRX), a biopharmaceutical company, focuses on the development of new drugs to treat hormonal and reproductive system disorders for male and female in the U.S. This stock is trading up 6.8% to $7.61 in Thursday's trading session.

Thursday's Range: $7.15-$7.64
52-Week Range: $5.92-$22.55
Thursday's Volume: 185,000
Three-Month Average Volume: 336,378

From a technical perspective, Repros Therapeutics is soaring higher here right off some near-term support at $7.05 with lighter-than-average volume. This stock has carved out a major bottoming chart pattern over the last month and change, with shares finding buying interest around $7 a share to just under that key support level. This stock has now started to rip higher off those support levels and it's quickly moving within range of triggering a major breakout trade above some key near-term overhead resistance levels. That breakout will hit if Repros Therapeutics manages to take out some key near-term overhead resistance levels at $7.65 to its 50-day moving average of $7.80 and then once it clears more resistance at $8.01 to $8.07 with high volume.

Traders should now look for long-biased trades in Repros Therapeutics as long as it's trending above those major bottoming support levels and then once it sustains a move or close above those breakout levels with volume that hits near or above 336,378 shares. If that breakout materializes soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $8.75 to its 200-day moving average of $8.90, or even $9.65 a share.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.

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