8 Stocks Under $10 Skyrocketing Higher

Entropic Communications

Entropic Communications (ENTR) is a semiconductor company. Entropic designs, develops and markets systems solutions to enable connected home entertainment. This stock is trading up 26% to $5.15 in recent trading.

Today's Range: $4.95-$5.38

52-Week Range: $3.36-$9.44

Volume: 3.3 million

Three-Month Average Volume: 1.2 million

Shares of ENTR are skyrocketing today after the company raised its outlook for the current quarter as it resolved some supply-chain issues at its recently acquired set-top box business.

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From a technical perspective, ENTR is gapping up huge here with monster volume. This move for ENTR has come right off its 50-day moving average of $4.05, and it's pushing the stock above its 200-day moving average of $5.13.

Traders should now look for long-biased trades once ENTR manages to trigger its next major breakout trade. That trade will hit once ENTR takes out some past overhead resistance at $5.45 with high-volume. At last check, ENTR has hit an intraday high of $5.38, and the stock has pulled back off that level to around $5.15. Look for a sustained move or close above $5.45 with volume that's near or above 1,115,560 shares. If we get that action soon, then ENTR could easily hit $6 to $6.45.

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