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7 Stocks Under $10 Moving Higher

Stocks in this article: CAMPSYNMNLSTVRMLPEIXPCRXROYL

Netlist

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Netlist (NLST) designs, manufactures and sells memory subsystems for the server, high performance computing and communications markets. This stock is trading up 7.3% at $3.06 in recent trading.

Today's Range: $2.65-$3.29

52-week Range: $1.04-$3.29

Volume: 2,360,000

Three-Month Average Volume: 216,180

This stock has been hot all week after the company showed in a regulatory filing on Monday that it had inked deals with IBM (IBM) and Hewlett-Packard (HPQ).

>>5 Tech Stocks That Could Surge

From a technical standpoint, this stock is now approaching some massively overbought levels; its current relative strength index is showing a reading of 90.5. Any reading over 70 is usually considered overbought for any stock, so NLST is extremely overbought.

If you're bullish on this name, I would let this pullback significantly from current levels. There are a number of gaps that could easily get filled on this stock below its current price. I would wait for these large recent gains to consolidate before I went long NLST.

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