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8 Stocks Under $10 Skyrocketing Higher

Nanosphere

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Nanosphere (NSPH) is engaged in developing, manufacturing and marketing of molecular diagnostics platform, the Verigene System, which enables sensitive genomic and protein testing on a single platform, including both genomic and protein assays, from a single sample. This stock is trading up 9.4% at $2.09 in recent trading.

Today's Range: $1.85-$2.19

52-Week Range: $0.89-$2.41

Volume: 934,000

Three-Month Average Volume: 220,906

From a technical perspective, NSPH is soaring higher here with monster volume. This move has started to push NSPH within range of triggering a major breakout trade. That trade will hit once NSPH takes out some past overhead resistance at $2.17 to $2.21 with high-volume.

Traders should now look for long-biased trades once NSPH sustains a move or close above those levels with volume that's near or above 220,906 shares. At last check, NPSH has hit an intraday high of $2.19 and volume is well above its three-month average action.

If that breakout triggers soon, then NSPH has a great chance to re-test and possibly take out its next major overhead resistance levels at $2.41 to $2.69. If those levels are then taken out with volume, NPSH should trade up towards $3 to $3.50.

I also featured Nanosphere recently in " 5 Stocks Insiders Love Right Now."

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