3 Stocks Under $10 Making Big Moves

Ceragon Networks

Ceragon Networks (CRNT), which provides wireless backhaul solutions to cellular operators and other wireless service providers, is trading up 4.9% to $5.70 in recent trading.

Today's Range: $5.44-$5.72

52-Week Range: $5.06-$10.83

Volume: 149,000

Three-Month Average Volume: 110,578

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From a technical perspective, CRNT is bouncing strong here right off some near-term support at $5.30 with above-average volume. This move is quickly pushing CRNT within range of triggering a major breakout trade. That trade will hit once CRNT manages to take out some near-term overhead resistance levels at $5.79 to $6 with high volume.

Traders should now look for long-biased trades in CRNT as long as it's trending above $5.30, and then once it sustains a move or close above those breakout levels with volume that hits near or above 110,578 shares. If that breakout triggers soon, then CRNT will set up to re-test or possibly take out its next major overhead resistance levels at $6.50 to $7.50.

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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