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TheStreet Open House

3 Stocks Under $10 Rising on Unusual Volume

Stock quotes in this article: HGSH, ZIP, STEC

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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