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TheStreet Open House

6 Stocks Under $10 Moving Higher

TranS1

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TranS1 (TSON) is a medical device company focused on designing, developing and marketing products that implement its minimally invasive surgical approach to treat degenerative disc disease and instability affecting the lower lumbar region of the spine. This stock is trading up 20% at $2.15 in recent trading.

Today's Range: $1.95-$2.39

52-Week Range: $1.39-$5.42

Volume: 760,000

Three-Month Average Volume: 163,752

Shares of TSON are soaring higher today after the company announced that Palmetto GBA has removed its non-coverage policy for AxiaLIF effective Jan. 1, 2012.

>>Stocks Rising on Unusual Volume

From a technical standpoint, TSON is gapping higher back above its 50-day moving average of $1.95 on monster volume. What's interesting about this move is that the stock hit some stiff resistance once it got close to its gap down day's high price from October.

I would not look to get long TSON again until the stock moves back above that gap down day high of just over $2.60 on high volume. Traders should look for volume that's near or above 163,752 shares on any future move over $2.60 to trigger the next long biased trading opportunity.

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