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Stocks Under $10 with 50-100% upside potential - 14 days FREE!

5 Stocks Under $10 Set to Trigger Big Moves

Complete Genomics

One more under-$10 stock that traders should put on their trading radar is Complete Genomics (GNOM), a life sciences company that has developed and commercialized a DNA sequencing platform. This stock has been annihilated by the bears during the last six months, with shares off by over 70%.

If you take a look at the chart for Complete Genomics, you'll notice that this stock has plunged from its August high of over $11 to its recent low of $2.57 a share. Since hitting that low, the stock has started to rebound sharply to its current price of around $4 a share. This rebound now has the stock close to triggering a bullish trade if the stock can manage to close a key technical level with volume.

Market players should now watch GNOM to trigger a bullish setup if the stock can sustain a high-volume move and close above its 50-day moving average of $3.83 a share. Look for volume that's tracking in close to or above its three-month average action of 368,467 shares. At last check, volume today has already hit over 500,000 shares, with the stock up over 7% at $4. If we see a close over $3.83 today and near the daily highs, then this stock could be setting up to trend back towards $4.68 to $5.60 a share or possibly even higher.

You could be a buyer of this stock off any weakness and simply use a mental stop that's a few percentage points below $3.83 a share in case this move fails. I would then add to any long positions if GNOM takes out $4.68 with high-volume.

Once again this is another stock with a notable short interest since 8% of the tradable float is currently sold short by the bears. Any high-volume close over the 50-day could easily set this stock up for a big spike higher due to the stock's low float of 17.55 million shares and decent short interest.

To see more hot under-$10 stocks, check out the Stocks Under-$10 Setting Up To Trade Higher portfolio on Stockpickr.

-- Written by Roberto Pedone in Winderemere, Fla.

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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.
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