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TheStreet Open House

5 Stocks Under $5 Moving Higher

Stocks in this article: CPRXHNSNATRSDNNLDK

LDK Solar

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LDK Solar (LDK) is a vertically integrated manufacturer of photovoltaic products. This stock is trading up 4.3% to $1.25 in recent trading.

Today's Range: $1.17-$1.27

52-Week Range: $1.16-$6.92

Volume: 568,000

Three-Month Average Volume: 788,920

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From a technical perspective, LDK is bouncing here off some near-term support and its 52-weeek low of $1.16 with decent volume. This move is quickly pushing LDK within range of triggering a near-term breakout trade. That trade will hit once LDK clears some near-term overhead resistance at $1.31, and then once it takes out its 50-day moving average at $1.45 with high volume.

Traders should now look for long-biased trades in LDK as long as it's trending above $1.16, and then once it sustains a move or close above those breakout levels with volume that's near or above 788,920 shares. If that breakout triggers soon, then LDK will setup to re-test and possibly take out its next major overhead resistance levels at $1.62 to $1.70. Any high-volume move above those levels will then put $1.90 to $2.05 into range for LDK.

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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