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TheStreet Open House

7 Stocks Under $10 Ripping Higher

Alcatel-Lucent

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Alcatel-Lucent (ALU) is engaged in mobile, fixed, Internet Protocol (IP) and optics technologies, applications and services Alcatel-Lucent is a partner of service providers, enterprises, industries and governments worldwide. This stock is trading up 12.9% to $1.57 in recent trading.

Today's Range: $1.47-$1.59

52-Week Range: $1.39-$6.63

Volume: 19,770,000

Three-Month Average Volume: 23,686,800

From a technical standpoint, ALU is bouncing big today off its recent low of $1.39. Traders should now look for a sustained move and close over $1.60 to trigger the next buy point for this stock. If this stock can hold today's gains and take out $1.60 soon, then look for a re-test of some major overhead resistance at $1.71 to $1.72.

I would consider it a major breakout if ALU can sustain a high-volume move over $1.71 to $1.72 in the coming days or weeks. Look for volume that's near or well above 23,686,800 shares.

Alcatel-Lucent was one of Scott Rothbort's 11 Worst-Run Companies of 2011.

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