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8 Stocks Under $10 Moving Higher

Stocks in this article: ACADECYTHOLIGALEEMKRZLCSCLDXACUR

Hollysys Automation Technologies

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Hollysys Automation Technologies (HOLI) is a provider of automation and control technologies and applications in the People's Republic of China. This stock is trading up 7.8% at $10.10 in recent trading.

Today's Range: $9.61-$10.30

52-Week Range: $4.54-$14.41

Volume: 221,000

Three-Month Average Volume: 274,149

>>5 Industrial Stocks Funds Love for 2012

From a technical perspective, HOLI has started to bounce off its 50-day moving average today at $9.65 with decent volume. At last check, the stock hit a high today of $10.30, which sits right around some near-term overhead resistance at $10.35. Since hitting that high, the stock has pulled back to its current price of around $9.80.

Traders should now look for long biased trades only if HOLI takes out that near-term resistance at $10.35 with volume. Look for a sustained high-volume move and close over that level to signal that HOLI wants to trend higher.

Look for volume on that move that's near or well above 274,149 shares. If we get that action soon, look for HOLI to re-test its recent high of $11.35.

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