7 Stocks Under $10 Moving Higher

PC data by YCharts

Panasonic (PC)

This company offers a range of products, systems and components for consumer, business and industrial use based on sophisticated electronics and precision technology, expanding to building materials and equipment, and housing business. This stock is trading up 6% to $4.91 in recent trading.

Today's Range: $4.82-$4.92

52-Week Range: $4.61-$9.56

Volume: 874,000

Three-Month Average Volume: 459,913

From a technical perspective, PC is trending higher here with above-average volume. This stock was hammered by the sellers during the last month, with shares dropping from $6.51 to its recent low of $4.61 with heavy selling volume. That said, the stock has now started to stabilize just under $5 and it's quickly setting up to trigger a near-term breakout trade. That trade will hit once PC manages to take out some near-term overhead resistance levels at $4.95 to $5.25 with high volume.

Traders should now look for long-biased trades in PC as long as it's trending above its recent low of $4.61 and once it sustains a move or close above those breakout levels with volume that hits near or above 459,913 shares. If that breakout triggers soon, then PC could see a powerful bounce that takes the stock back towards its 50-day moving average of $6.21.

Keep in mind that shares of PC are extremely oversold, since its current relative strength index (RSI) reading is now 31. Oversold can always get more oversold, but if PC triggers that breakout soon, then we could see a large spike higher.

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