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7 Stocks Under $10 Surging Higher

KIT Digital

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KIT Digital (KITD), through its operating subsidiaries, provides enterprise clients an end-to-end technology platform for managing IP-based video assets across the browser, mobile device and Internet protocol television set-top-box-enabled television sets. This stock is trading up 11.8% at $3.50 in recent trading.

Today's Range: $3.13-$3.50

52-Week Range: $2.64-$12.65

Volume: 403,000

Three-Month Average Volume: 1.2 million

From a technical perspective, KITD is ripping to the upside here right off some near-term support at $3.02 with low volume. This move is quickly pushing KITD within range of its 50-day moving average of $3.85.

Traders should now look for long-biased trades if KITD can manage to take out $3.85 with high volume. Look for a sustained move or close above $3.85 with volume that's near or above 1.2 million shares. If we get that action soon, then this stock could challenge some stiff near-term overhead resistance at around $4.75 to $4.80.

Keep in mind that KITD has put in a lower low since it tagged its 52-week low of $2.64 in June, with the stock now trading over $3.02. All the bulls need now is for KITD to sustain a trend over its 50-day to put the stock back into range of a bullish near-term uptrend.
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