7 Stocks Under $10 Moving Higher
ModusLink Global Solutions (MLNK)
This company executes comprehensive supply chain and logistics services that improve clients' revenue, cost, sustainability and customer experience objectives. This stock is trading up 10.7% to $3.35 in recent trading.
Today's Range: $2.86-$3.5052-Week Range: $2.60-$6.00 Volume: 207,000 Three-Month Average Volume: 93,267 From a technical perspective, MLNK is soaring higher here back above some near-term resistance at $3.06 and above its 50-day moving average of $3.33 with above-average volume. This move is now pushing MLNK within range of triggering another major breakout trade. That trade will hit once MLNK manages to take out some near-term overhead resistance levels at $3.96 to its 200-day moving average of $4.09 with high volume. Traders should now look for long-biased trades in MLNK as long as it's trending above its 50-day at $3.33, and then once it sustains a move or close above those breakout levels with volume that hits near or above 93,267 shares. If that breakout triggers soon, then MLNK will set up to re-test or possibly take out its next major overhead resistance levels at $4.75 to $5. To see more stocks 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.
Twitter and become a fan on Facebook. 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 technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.
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