One under-$10 name that looks poised for higher prices is LiveDeal (LIVE), which delivers local customer acquisition services for small and medium-sized businesses. It provides online marketing Internet directory services. This stock is off to an extremely hot start in 2012, with shares up over 70%.
If you take a look at the chart for LiveDeal, you'll see that since April this stock has been uptrending strong, with shares soaring from a low of $3.87 to a recent high of $7.67 a share. During that uptrend, shares of LiveDeal have been mostly making higher lows and higher highs, which is bullish technical price action. That move has also just pushed this stock into breakout territory since shares took out some near-term overhead resistance on Wednesday at $6.90 to $6.95 a share with heavy volume. That move yesterday pushed the stock to a high of $7.67 and volume hit 217,600 shares, which is well above its three-month average volume.
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