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Stocks Under $10 with 50-100% upside potential - 14 days FREE!

5 Under-$10 Plays Primed to Pop

Sify Technologies

Another under-$10 name that's trading close to triggering a near-term breakout trade is Sify Technologies (SIFY), which is an integrated Internet, network and electronic commerce services Company, offering end-to-end solutions with a range of services delivered over a common Internet backbone infrastructure. This stock has fallen notably during the last three months, with shares off by 14.9%.

If you take a look at the chart for Sify Technologies, you'll see that this stock has been uptrending strongly for the last two months and change, with shares soaring from its low of $1.61 to its recent high of $2.47 a share. During that uptrend, shares of SIFTY have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of SIFY within range of triggering a near-term breakout trade.

Market players should now look for long-biased trades in SIFY if it manages to break out above some near-term overhead resistance at $2.47 a share with high volume. Look for a sustained move or close above $2.47 a share with volume that registers near or above its three-month average action of 261,626 shares. If that breakout triggers soon, then SIFY will set up to re-test or possibly take out its next major overhead resistance levels at $3.10 to $3.45 a share.

Traders can look to buy SIFY off any weakness to anticipate that breakout and then simply use a stop that sits just below its 50-day moving average of $1.99 a share. One could also buy SIFY off strength once it takes out $2.47 a share with volume and then simply use a stop just below its 200-day moving average at $2.29 a share.

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