3 Stocks Under $10 Rising on Unusual Volume

Zipcar (ZIP)

This company operates car sharing network. It provides the freedom of 'wheels when you want them' to over 560,000 Zipsters. This stock is trading up 6.3% to $7.48 in recent trading.

Today's Range: $7.34-$7.75

52-Week Range: $5.90-$17.96

Volume: 652,000

Three-Month Average Volume: 334,376

From a technical perspective, ZIP is gapping higher here back above its 50-day moving average of $7.25 with above-average volume. This move is quickly pushing ZIP within range of triggering a major breakout trade. That trade will hit once ZIP manages to take out some key overhead resistance levels at $7.84 to $8.14, and then once it clears more resistance at $8.28 to $8.69 with high volume.

Traders should now look for long-biased trades in ZIP as long as it's trending above its 50-day at $7.25, and then once it sustains a move or close above those breakout levels with volume that hits near or above 334,376 shares. If that breakout triggers soon, then ZIP will set up to re-fill some of its previous gap down zone from August that started near $11.

STEC (STEC)

This is a global provider of enterprise-class Flash solid-state drives that are designed to increase the performance of enterprise-storage systems and servers that companies use to retain and access their critical data. This stock is trading up 9/9% to $4.54 in recent trading.

Today's Range: $4.07-$4.70

52-Week Range: $3.95-$10.87

Volume: 1.20 million

Three-Month Average Volume: 569,781

From a technical perspective, STEC is ripping to the upside here right off some near-term support at $3.95 with heavy upside volume. This move is coming off of oversold levels, since STEC recently had a relative strength index (RSI) reading that was well below 30. Any ready below 30 is considered extremely oversold levels. This move is now pushing STEC within range of triggering a major breakout trade. That trade will hit once STEC manages to take out some near-term overhead resistance at $4.62 with high volume.

Traders should now look for long-biased trades in STEC as long as it's trending above $3.95, and then once it sustains a move or close above $4.62 with volume that hits near or above 567,781 shares. If that breakout triggers soon, then STEC will set up to re-fill some of its previous gap down zone from earlier this month that started near $5.75.

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