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5 Stocks Under $10 Soaring Higher

Dusa Pharmaceuticals

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Dusa Pharmaceuticals (DUSA) is a vertically integrated dermatology that is developing and marketing Levulan photodynamic therapy. This stock is trading up 7.4% to $5.78 in recent trading.

Today's Range: $5.44-$5.89

52-Week Range: $3.25-$6.62

Volume: 88,000

Three-Month Average Volume: 74,906

>>5 Stocks Ready to Get Squeezed Higher

From a technical perspective, DUSA is ripping to the upside here right off its 50-day moving average of $5.45 with above-average volume. This move is quickly pushing DUSA within range of triggering a near-term breakout trade. That trade will hit once DUSA manages to clear some near-term overhead resistance levels of $5.77 to $5.91, and then $6.16 with high volume. At last check, DUSA has hit an intraday high of $5.88 and volume is just starting to eclipse its three-month average volume of 74,906 shares.

Traders should now look for long-biased trades in DUSA as long as its trending above its 50-day, and then once it sustains a move or close above those breakout levels with volume that's near or above 74,906 shares. If that breakout triggers soon, then DUSA will have a great chance of re-testing or possibly taking out its next major overhead resistance levels at $6.62 to $6.83. If that $6.83 level gets taken out, then DUSA will hit a new three-year high, which is bullish technical price action.

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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