7 Stocks Under $10 Moving Higher
Rubicon Technology
Rubicon Technology (RBCN) is an electronic materials provider that develops, manufactures and sells monocrystalline sapphire and other crystalline products for LEDs, RFICs and other optical applications. This stock is trading up 16% to $9.83 in recent trading.
Today's Range: $8.81-$9.92
52-Week Range: $8.73-$29.79 Volume: 219,000 Three-Month Average Volume: 454,606 From a technical standpoint, this stock is starting to bounce big off extreme oversold levels. Shares of Rubicon have plunged from its July high of $18.28 to a recent low of $8.23. When the stock hit that low at $8.23, it registered a RSI reading of 30, which indicates an oversold condition. Oversold can always get more oversold, but traders have jumped into RBCN today pushing the stock up sharply. The next buy point will trigger once RBCN takes out its 50-day moving average of $10.41 on high-volume. Traders should look for a sustained move and close over $10.41 on volume that's tracking in close to or above 454,606 shares. If we see that move, then look for this stock to challenge $12 to $13 in the near-term. To see more stocks under-$10 that are making large moves higher today, including Zoltek Companies (ZOLT), Advanced Analogic Technologies (AATI) and Genetic Technologies (GENE), check out the Stocks Under-$10 Moving Higher portfolio on Stockpickr. -- Written by Roberto Pedone in Winderemere, Fla.Follow Stockpickr on Twitter and become a fan on Facebook.
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