8 Stocks Under $10 Moving Higher

Rare Elements Resources

Rare Elements Resources (REE) is a medical technology company. Biolase Technology designs, manufactures and markets dental, cosmetic and surgical lasers and related products. This stock is trading up 9.5% to $7.61 in recent trading.

Today's Range: $7.08-$7.79

52-Week Range: $3.86-$16.55

Volume: 3.3 million

Three-Month Average Volume: 1.6 million

From a technical standpoint, REE has started to trigger a breakout trade today now that this stock is moving above some near-term overhead resistance levels at $7.37 to $7.53 on massive volume. This move now puts REE within range of tagging its 200-day moving average of $8.17.

Market players should continue to look for short-term long biased trades in REE if the stock can manage to close above $7.53 and near its daily highs. I am suggesting short-term trades because the stock just ran from $3.08 to its current level over $7.50.

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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