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8 Stocks Under $10 Making Big Moves

China Information Technology

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China Information Technology (CNIT) is a provider of integrated solutions for the geographic information systems, digital public security technology and digital hospital information systems markets in the People's Republic of China. This stock is trading up 21% to $1.49 in recent trading.

Today's Range: $1.20-$1.48

52-Week Range: $1.02-$6.02

Volume: 632,000

Three-Month Average Volume: 153,465

>>Best Chinese Stocks for 2012

From a technical perspective, CNIT is soaring today back above its 50-day moving average of $1.32 with monster volume. This move has also pushed CNIT into breakout territory now that's trending above some near-term overhead resistance at $1.52.

Traders should now look for long-biased trades as long as CNIT is trending above its 50-day and $1.52 with strong upside volume flows. If that action continues, then look for CNIT to make a run at its 200-day moving average of $2.06 in the near future. I would avoid this stock from the long side if it fails to hold above the 50-day and $1.52.

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