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8 Stocks Under $10 Making Big Moves

Stocks in this article: SQNMXIDEGTERTKCEDCMAGSSHIPANAD

Central European Distribution

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Central European Distribution (CEDC) operates primarily in the alcohol beverage industry. CEDC is a producer of vodka and is Central and Eastern Europe's integrated spirit beverages business. This stock is trading up 10% to $4.69 in recent trading.

Today's Range: $4.22-$4.74

52-Week Range: $2.75-$13.13

Volume: 516,000

Three-Month Average Volume: 1.3 million

>>5 Sinful Stocks to Buy for 2012 Gains

From a technical perspective, CEDC is bouncing right near some previous support levels at $3.85 to $3.98 today with light volume. This move could be signaling a near-term bottom for the stock since the bounce so far is pretty strong.

Traders should now look for long-biased trades as long as CEDC closes near its daily highs, and then takes out its 50-day moving average of $5.11 with high-volume. Look for volume on that move that's near or well above 1,278,590 shares. If we get that action today or soon, then look for CEDC to make a run at $5.64 to $5.95 (its 200-day) or possibly into the mid-$6s.

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