Bashers and shorts can go u #$%$ off
3 Stocks Under $10 Making Big Moves Higher
ByRoberto PedoneFollow | 06/11/15 - 01:55 PM EDT0
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Amedica (AMDA - Get Report), a commercial-stage biomaterial company, develops, manufactures and sells a range of medical devices based on its silicon nitride technology platform in the U.S., Europe and South America. This stock is trading up 6.5% to 37 cents per share in Thursday's trading session.
Thursday's Range: $0.34-$0.37
52-Week Range: $0.20-$4.96
Thursday's Volume: 2.35 million
Three-Month Average Volume: 2.38 million
From a technical perspective, Amedica is ripping sharply higher here with strong upside volume flows. This stock has been uptrending over the last month and change, with shares moving to the upside from its low of 21 cents per share to its intraday high of 37 cents per share. During that uptrend, this stock has been consistently making higher lows and higher highs, which is bullish technical price action. This spike higher on Thursday is now starting to push Amedica within range of triggering a major breakout trade. That trade will trigger if this stock manages to take out some near-term overhead at 38 cents per share with high volume.
Traders should now look for long-biased trades in Amedica as long as it's trending above some near-term support levels at 33 to 32 cents per share and then once it sustains a move or close above 38 cents per share with volume that hits near or above 2.38 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 47 cents to 50 cents per share, or even 60 cents per share.