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TheStreet Open House

7 Stocks Under $10 Moving Higher

Stock quotes in this article: VDSI, VELT, ARNA, ELX, LXRX, COGO, REDF

Rediff.com

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Rediff.com (REDF), along with its subsidiaries, is engaged in the business of providing online Internet-based services, focusing on India and the global Indian community. This stock, rated D+ sell by TheStreet Ratings, is trading up 10.7% to $8.51 in recent trading.

Today's Range: $7.76-$8.72

52-Week Range: $4.89-$17.98

Volume: 542,000

Three-Month Average Volume: 454,586

From a technical standpoint, REDF has started to trade back above its 50-day moving average of $8.26 today on decent volume. The stock has also started to break out here above some near-term overhead resistance at $7.90.

Traders should watch for this stock to close near its daily highs and above the 50-day to signal that the stock wants to trend higher. The next major breakout level will hit once REDF takes out its 200-day moving average of $9.03 with volume. Look for volume that's near or above 454,586 if that level is taken out to the upside.

To see more stocks under-$10 that are making notable moves higher today, check out the Stocks Under-$10 Moving 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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