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TheStreet Open House

8 Stocks Under $10 Making Big Moves

Regions Financial

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Regions Financial (RF - Get Report) is a financial holding company. Regions operate throughout the South, Midwest and Texas. This stock is trading up 5.9% to $6.45 in recent trading.

Today's Range: $6.12-$6.50

52-Week Range: $2.82-$7.45

Volume: 30.3 million

Three-Month Average Volume: 25.7 million

Shares of RF are ripping higher today after the company reported a net income available to common shareholders of $145 million for the first-quarter vs. $17 million for the same period a year ago. Regions said its net income from continuing operations was as $185 million, or 14 cents per share, beating analysts' estimates of 8 cents per share.

From a technical perspective, RF is bouncing strong today right off its 50-day moving average of $6.13 with monster volume. This move is quickly setting up RF for a major breakout trade. That trade will hit once RF takes out some near-term overhead resistance levels at $6.40 to $6.69 with high-volume.

Traders should now look for long-biased trades once RF manages to move or close above those levels on volume that's near or well above 25,689,200 shares. If we get that action soon, look for RF to tag $7 to $8 in the near future. I would avoid any long trades if RF fails to hold its 50-day.

Regions Financial shows up on a list of 7 Bank Stock Earnings Picks From Deutsche Bank.

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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SYM TRADE IT LAST %CHG
DRL $0.72 0.00%
ALIM $4.59 0.00%
CLS $11.12 0.00%
RF $9.23 0.00%
SPRT $1.60 0.00%

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

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