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TheStreet Open House

8 Stocks Under $10 Moving Higher

Today's Range: $9.02-$9.68

52-Week Range: $3.63-$10.24

Volume: 92,000

Three-Month Average Volume: 148,218

From a technical perspective, GNMK is bouncing strongly to the upside here right off its 50-day moving average of $8.94 with lighter volume. This stock has been trending sideways for the last month, with shares moving between $8.91 on the downside and $10.24 on the upside. Shares of GNMK are now quickly moving within range of triggering a breakout trade above the upper-end of its recent sideways trading pattern. That trade will hit once GNMK manages to clear some near-term overhead resistance levels at $9.97 to $10.24 with high volume.

Traders should now look for long-biased trades in GNMK as long as it's trending above its 50-day at $8.94, and then once it sustains a move or close above those breakout levels with volume that hits near or above 148,218 shares. If that breakout triggers soon, then GNMK will set up to enter new 52-week high territory above $10.24, which is bullish technical price action. Some possible upside targets off that breakout are $11 to $13 in the near future.

Hersha Hospitality (HT)

This is a Real Estate Investment Trust that invests in institutional grade, upscale hotels in metropolitan central business districts primarily in the Northeastern United States. This stock is trading up 5.6% to $5.09 in recent trading.

Today's Range: $4.85-$5.10

52-Week Range: $4.19-$5.91

Volume: 2.32 million

Three-Month Average Volume: 1.65 million

Shares of HT are soaring today after the company's board of directors announced a stock buyback program that totaled $75 million worth stock.

From a technical perspective, HT is ripping higher here back above its 200-day moving average of $5 with monster upside volume. This stock has been uptrending strongly for the last month and change, with shares soaring from a low of $4.19 to its recent high of $5.10. During that move, shares of HT have been mostly making higher lows and higher highs, which is bullish technical price action.

Traders should now look for long-biased trades in HT as long as it's trending above its 50-day at $4.68, and then once it sustains a move or close above its 200-day at $5 with volume that hits near or above 1.65 million shares. If that breakout triggers soon, then HT will set up to re-test or possibly take out its next major overhead resistance levels at $5.40 to $5.65. Any high-volume move above those levels will then put $5.78 to $6.39 into focus for shares of HT.

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