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TheStreet Open House

4 Stocks Under $10 Ripping Higher

Stocks in this article: QLTI SWIR IDIX FTEK

Fuel Tech

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Fuel Tech (FTEK - Get Report) is an integrated company, which uses a range of advanced technologies to provide boiler optimization, improvement and air pollution reduction and control solutions to utility and industrial customers globally. This stock is trading up 16.2% to $5.31 cents per share in recent trading.

Today's Range: $4.84-$5.43

52-Week Range: $3.47-$7.46

Volume: 323,000

Three-Month Average Volume: 192,970

Shares of FTEK are soaring today after the company was awarded a $36.6 million air pollution control contract by a major utility company in Chile

>>5 Stocks Poised for Breakouts

From a technical perspective, FTEK is gapping up huge here with above average volume. This move is coming off some near-term support at $4.51, and it's pushing the stock within range of a major breakout trade. That trade will hit once FTEK takes out its 200-day moving average of $5.41 with high volume.

Traders should now look for long-biased trades once FTEK sustains a move or close over $5.41 with volume that's near or above 192,970 shares. At last check, FTEK has hit an intraday high of $5.43 and volume is well above its three-month average action of 192,970 shares. If that breakout triggers soon, then look for FTEK to re-test and possibly take out its next significant overhead resistance levels at $5.94 to $6.50.

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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