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7 Stocks Under $10 Moving Higher

Stocks in this article: VDSIVELTARNAELXLXRXCOGOREDF

Emulex

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Emulex (ELX) is a provider of a range of network convergence solutions that connect servers, storage, and networks within the data center. This stock, rated D+ sell by TheStreet Ratings, is trading up 14.8% at $8.49 in recent trading.

Today's Range: $7.90-$8.62

52-Week Range: $5.86-$12.97

Volume: 2.6 million

Three-Month Average Volume: 910,057

Shares of ELX are surging today after the company said its second-quarter earnings would be above its earlier guidance as it recovered production after Thailand flooding and overcame supply issues.

From a technical standpoint, ELX are gapping up huge today on big volume back above its 50-day and 200-day moving averages. Market players should now watch for the next big breakout trade to trigger for ELX if this stock can take out $8.78 to $9.23 with volume.

A sustained high-volume move and close above those levels should set this stock up to re-test $10.40 to $10.75 in the near future. Look for volume that's near or above 910,057 if those levels are taken out.

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