8 Stocks Under $10 Ripping Higher

Biolase Technology

Biolase Technology (BLTI) is a medical technology company. Biolase Technology designs, manufactures and markets dental, cosmetic and surgical lasers and related products. This stock is trading up 13.7% to $3.24 in recent trading.

Today's Range: $3.08-$3.34

52-week Range: $2.14-$6.85

Volume: 576,000

Three-Month Average Volume: 228,902

From a technical standpoint, BLTI has started to trigger a big breakout trade today now that this stock is clearing some near-term overhead resistance levels at $2.87 to $3.09 on strong volume. At last check, this stock hit $3.40 at the highs of the day, which is very close to the next big overheard resistance level of $3.51.

Traders should now watch for BLTI to sustain a high-volume move or close over $3.51 to signal that this stock wants to re-test its 200-day moving average of $3.80. Look for volume on a move over $3.51 that's near or above 228,902 shares. Any move then over $3.81 and the last key overhead resistance levels around $3.89 should be considered very bullish for BLTI.

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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