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8 Stocks Under $10 Soaring Higher

Canadian Solar

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Canadian Solar (CSIQ - Get Report) designs, develops, manufactures and sells solar cell and solar module products that convert sunlight into electricity for a variety of uses. This stock is trading up 5.9% at $3.40 in recent trading.

Today's Range: $3.23-$3.50

52-Week Range: $2.07-$12.01

Volume: 541,000

Three-Month Average Volume: 905,881

Shares of CSIQ are moving higher today after the company beat earnings estimates by 4 cents per share and said its sees second-quarter gross margins of 8% to 10%.

>>Top 5 Tech Stocks in a Down Market

From a technical perspective, CSIQ is bouncing strong back above its 50-day moving average of $3.32 on light volume. This move is pushing CSIQ within range of triggering a near-term breakout trade. That trade will hit once CSIQ takes out some near-term overhead resistance at $3.69 to $3.81, and then its 200-day moving average of $3.94 with high-volume.

Traders should look for long-biased trades off a sustained move or close above those levels that comes with volume near or above 905,881 shares. If we get that action soon, look for CSIQ to hit its next significant overhead resistance levels at $4.60 to $4.74.

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BIOS $5.26 0.00%
CSIQ $36.36 0.00%
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