6 Stocks Under $10 Moving Higher

Noah (NOAH)

This company, through its subsidiaries is a service provider focusing on distributing wealth management products to the high-net-worth population in the People's Republic of China. This stock is trading up 14% to $6.65 in recent trading.

Friday's Range: $5.84 to $6.69

52-week Range: $5.73 to $18.45

Volume: 442,000

Three-Month Average Volume: 130,352

From a technical standpoint, NOAH is quickly approaching a big breakout if this stock can manage to take out $6.55 and then its 50-day moving average of $7 in the near future. Volume Friday was strong and this stock traded as high as $6.70 before closing at $6.48. Market players should now look for a sustained high-volume move or close above $6.55 and $7 to trigger a breakout trade. Some potential upside targets if we get the breakout are $7.50 to $9. Look for volume that registers near or above 130,352 shares. Traders should look for long-biased trades once NOAH clears the 50-day with volume, and as long as it stays above that level once it's cleared.

To see more stocks under-$10 that are making notable moves higher, 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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