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7 Stocks Soaring in a Weak Market

Star Scientific

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Star Scientific (CIGX) is a technology-oriented company with a focus to reduce the harm associated with the use of tobacco. This stock is trading up 5.3% to $3.52 in recent trading.

Today's Range: $3.26-$3.58

52-Week Range: $1.50-$5.35

Volume: 786,000

Three-Month Average Volume: 1.7 million

Shares of CIGX are moving higher today after the company confirms that Roskamp Institute reported beneficial effects of nutritional supplementation with anatabine in an animal model of multiple sclerosis.

From a technical perspective, CIGX is ripping back above its 50-day moving average of $3.42 here on light volume. This move is quickly pushing CIGX within range of a near-term breakout trade. That trade will hit once CIGX takes out some near-term overhead resistance levels at $3.71 to $3.75 with high-volume.

Traders should now look for long-biased trades if CIGX can sustain a move or close above those levels on volume that's near or above 1,665,350 shares. If we get that action soon, look for CIGX to make a run at $4 to $4.25 or possibly $4.50 in the near-term.

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
CIGX $0.00 0.00%
LIOX $5.64 0.00%
NLS $17.27 0.00%
QUIK $1.97 0.00%
VRML $1.80 0.00%

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