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3 Stocks Under $10 With Relative Strength

Capstone Turbine

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Capstone Turbine (CPST - Get Report) engages in developing, manufacturing, marketing, and servicing microturbine technology solutions for use in stationary distributed power generation applications worldwide. This stock is trading up 2% to $1.08 in recent trading.

Today's Range: $1.04-$1.12

52-Week Range: $0.85-$1.69

Volume: 4.1 million

Three-Month Average Volume: 3 million

From a technical perspective, CPST is bouncing here right near its 50-day moving average of $1.02 with above average volume. This move has briefly pushed CPST back above its 200-day moving average of $1.08. At last check, shares of CPST have hit an intraday high of $1.12 and volume is well above its three-month average action of 3,019,810 shares.

Traders should now look for long-biased trades if CPST can manage to maintain its trend above its 200-day at $1.08, and over its near-term breakout level of $1.09 with strong upside volume flows. I would consider any upside volume day that registers near or above 3,019,810 shares as bullish. If CPST can hold that trend, then this stock could be setting up to re-test and possibly take out its next major overhead resistance levels at $1.20 to $1.25 in the near future.

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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