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3 Stocks Under $10 With Relative Strength - views
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 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 under $10 that are making large moves to the upside today.
TearLab (TEAR) is an in-vitro diagnostic company. TearLab is commercializing a tear testing platform, the TearLab Osmolarity System that enables eye care practitioners to test for sensitive and specific biomarkers using nanoliters of tear film at the point-of-care. This stock is trading up 5% to $3.35 in recent trading.
Today’s Range: $3.17-$3.70
52-Week Range: $0.78-$4.88
Three-Month Average Volume: 163,117
From a technical perspective, TEAR is ripping higher here back above its 50-day moving average of $3.32 with decent volume. This move has also pushed the stock into breakout territory, since TEAR has flirted with some near-term overhead resistance at $3.31 to $3.40. At last check, TEAR has hit an intraday high of $3.70 and volume is just starting to move above its three-month average action of 163,117 shares.
Traders should now look for long-biased trades as long as TEAR is trending above its 50-day at $3.32, and once it takes out today’s high of $3.70 with strong volume. I would consider any upside volume day that registers near or above 163,117 shares as bullish. If we get that action soon, then TEAR has a great chance of re-test and possibly taking out its next significant overheard resistance levels at $4.35 to $4.88 a share.
Asure Software (ASUR) is a provider of Web-based workforce management solutions. Asure software offers Web-based workforce management solutions that enable organizations to manage their office environment, as well as their human resource and payroll processes. This stock is trading up 16% at $7.03 in recent trading.
Today’s Range: $6.15-$7.25
52-Week Range: $1.51-$6.98
Three-Month Average Volume: 20,895
From a technical perspective, ASUR is ripping to the upside here with above-average volume. This move has now pushed ASUR into breakout territory, since the stock has taken out some near-term overhead resistance at $6.98.
Traders should continue to look for long-biased trades as long as ASUR is trending above 6.98 with strong upside volume flows. I would consider any upside volume day that registers near or above 20,895 shares as bullish. If ASUR can maintain its trend above $6.98, then this stock could easily hit $10 in the very near future.
Capstone Turbine (CPST) engages in developing, manufacturing, marketing, and servicing microturbine technology solutions for use in stationary distributed power generation applications worldwide. This stock is trading up 2% to $1.08 in recent trading.
Today’s Range: $1.04-$1.12
52-Week Range: $0.85-$1.69
Volume: 4.1 million
Three-Month Average Volume: 3 million
From a technical perspective, CPST is bouncing here right near its 50-day moving average of $1.02 with above average volume. This move has briefly pushed CPST back above its 200-day moving average of $1.08. At last check, shares of CPST have hit an intraday high of $1.12 and volume is well above its three-month average action of 3,019,810 shares.
Traders should now look for long-biased trades if CPST can manage to maintain its trend above its 200-day at $1.08, and over its near-term breakout level of $1.09 with strong upside volume flows. I would consider any upside volume day that registers near or above 3,019,810 shares as bullish. If CPST can hold that trend, then this stock could be setting up to re-test and possibly take out its next major overhead resistance levels at $1.20 to $1.25 in the near future.
To see more stocks under-$10 that are making notable moves higher today, check out the Stocks Under-$10 Moving Higher portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.
At the time of publication, author had no positions in stocks mentioned.
Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on stocks, options, futures, commodities and currencies. He is also an outside contributor to Beconequity.com and maintains the website Maddmoney.net, which he sold to Blue Wave Advisors in 2008. Roberto studied International Business at The Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany.