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3 Stocks Under $5 Ripping Higher

Merge Healthcare

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Merge Healthcare (MRGE - Get Report) develops software solutions that facilitate the sharing of images to create an electronic healthcare experience for patients and physicians. This stock is trading up 5.2% at $3.19 in recent trading.

Today's Range: $3.04-$3.22

52-Week Range: $2.20-$7.23

Volume: 150,000

Three-Month Average Volume: 532,800

>>5 Stocks Poised for Breakouts

From a technical perspective, MRGE is bouncing higher here right off some near-term support at $3.03 with light volume. This bounce is also coming right near its 50-day moving average of $2.92.

Traders should now look for long-biased trades once MRGE triggers its next major breakout trade. That trade will hit once MRGE takes out some near-term overhead resistance levels at $3.25 to $3.30, and then $3.54 with high volume. Look for a sustained move or close above those levels with volume that's near or above 532,800 shares. If that breakout triggers soon, then MRGE could re-fill a previous gap back to $4, and possibly even tag its 200-day moving average of $4.41. Traders should key off of $2.84 to $2.92 for near-term support levels.

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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