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4 Stocks Under $10 Making Big Moves

Affymetrix

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Affymetrix (AFFX - Get Report) is engaged in developing, manufacturing and selling products and services for genetic analysis to the life science research and clinical healthcare markets. This stock is trading up 2.6% to $3.62 in recent trading.

Today's Range: $3.50-$3.72

52-Week Range: $3.41-$5.95

Volume: 530,000

Three-Month Average Volume: 980,937

From a technical perspective, AFFX is bouncing higher here right around some near-term support at $3.41 with lighter volume. This move is following a recent gap down in price for AFFX that took the stock from around $4.50 to $3.45 with heavy volume. Traders should now look to play the next major breakout trade for AFFX. That trade will hit once AFFX takes out its gap down day high at $3.74, and then its 50-day moving average at $3.93 with high volume.

Traders should now look for long-biased trades in AFFX once it sustains a move or close above those breakout levels with volume that hits near or above 980,937 shares. If that breakout triggers soon, then AFFX could easily rip higher back towards its next major overhead resistance levels at $4.40 to $4.72. Any high-volume move above $4.72 will then put $5.20 to $5.50 into play for AFFX.

To see more stocks under-$10 that are making notable moves higher today, check out the Stocks Under $10 Moving Higher portfolio on Stockpickr.

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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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