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Stocks Under $10 with 50-100% upside potential - 14 days FREE!

5 Stocks Under $10 Poised to Move Higher

Stocks in this article: RGEN PNX CIS KERX TRX

Camelot Information Systems

An under-$10 name in the software and programming complex that's trading within range of a big breakout is Camelot Information Systems (CIS), a domestic provider of enterprise application services and financial industry information technology services in China. This stock is up modestly so far in 2012, with shares up around 7.7%.

If you take a look at the chart for Camelot Information Systems, you'll notice that this stock has been trading inside of a sideways trading pattern for the past few months between $2 and $3.15 a share. Shares of CIS recently broke out above $3.15 and ran toward a high of $3.48 a share, before pulling back to its current price of $3.07 a share. It's also worth pointing out that the move over $3.15 that took the stock to $3.48 came with monster upside volume.

>>3 Tech Stocks With More Upside for 2012

Traders should now look for long-biased trades in CIS if the stock can manage to break out above some significant overhead resistance levels at $3.48 to $3.84 a share with heavy volume. Look for volume on move above those levels that's near or above its three-month average action of 317,700 shares. If we get that action soon, then I really like the upside potential for CIS because its next significant overhead resistance levels sit far away at $5.24 to $6.85 a share.

Traders should consider long biased trades in CIS as long as it's trending above $3.15 to $3.48 with strong upside volume flows. I would simply avoid any long trades in CIS if this stock is trending below its 50-day moving average of $2.57 with strong volume. Keep in mind that CIS reports earnings before the market opens on Friday. That earnings call should provide us with some quick clarity as to if CIS is ready to make a run at those key breakout levels.

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