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4 Stocks Under $5 Moving Higher

Gevo

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Gevo (GEVO - Get Report) is a renewable chemicals and advanced biofuels company focused on the development and commercialization of alternatives to petroleum-based products. This stock is trading up 4.7% to $1.99 in recent trading.

Today's Range: $1.84-$2.02

52-Week Range: $1.77-$11.29

Volume: 176,000

Three-Month Average Volume: 563,800

From a technical perspective, GEVO is bouncing higher here right off some near-term support at $1.80 with light volume. This bounce is also coming off of oversold territory, since its current relative strength index is 33.18. Oversold can always get more oversold, but GEVO is now starting to move within range of triggering a near-term breakout trade.

Traders should look for long-biased trades in GEVO once it manages to break out above some near-term overhead resistance levels at $2.10 to $2.25 with high volume. Look for a sustained move or close above those levels with volume that hits near or above 563,800 shares. If that breakout triggers soon, then GEVO will setup to re-test or possibly take out its next major overhead resistance levels at $2.60 to $2.91. Any high-volume move above its 50-day at $2.91 will give GEVO a chance to hit $3.50 in the near future.

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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LLEN $0.03 0.00%
GEVO $2.46 0.00%
ESEA $0.73 0.00%
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