8 Stocks Under $10 Soaring Higher

Sunesis Pharmaceuticals

Sunesis Pharmaceuticals (SNSS) is a biopharmaceutical company engaged in the development and commercialization of new oncology therapeutics for the treatment of solid and hematologic cancers. This stock is trading up 8.3% to $5.56 in recent trading.

Today's Range: $5.09-$5.73

52-Week Range: $1.38-$6.85

Volume: 1.61 million

Three-Month Average Volume: 489,606

From a technical perspective, SNSS is bouncing higher here right off some near-term support at $5 with above-average volume. This move has started to push SNSS into breakout territory, since the stock has cleared some near-term overhead resistance at $5.24. Shares of SNSS are now quickly moving within range of triggering another major breakout trade. That trade will hit if SNSS manages to take out some past overhead resistance at $5.74 with high volume. At last check, SNSS has hit an intraday high of $5.73 and volume is well above its three-month average action of 489,606 shares.

Traders should now look for long-biased trades in SNSS as long as it's trending above $5.24, and then once it sustains a move or close above $5.74 with volume that hits near or above 489,606 shares. If that breakout triggers soon, then SNSS will set up to re-test or possibly take out its next major overhead resistance levels at $6 to $6.85.

Camelot Information Systems

Camelot Information Systems (CIS) is a domestic provider of enterprise application services and financial industry IT services in China. This stock is trading up 7.9% to $1.35 in recent trading.

Today's Range: $1.27-$1.35

52-Week Range: $0.93-$4.07

Volume: 52,000

Three-Month Average Volume: 136,421

From a technical perspective, CIS is ripping higher here right above its 50-day moving average of $1.21 with lighter-than-average volume. This move has started to push shares of CIS into breakout territory, since the stock has taken out some near-term overhead resistance at $1.30. Shares of CIS are now quickly moving within range of triggering another major breakout trade. That trade will hit if CIS manages to take out some more overhead resistance at $1.49 with high volume.

Traders should now look for long-biased trades in CIS as long as it's trending above its 50-day at $1.21, and then once it sustains a move or close above $1.30 to $1.49 with volume that hits near or above 136,421 shares. If that breakout hits soon, then CIS will set up to re-test or possibly take out its next major overhead resistance levels $1.70 to $1.75. Any high-volume move above $1.75 will then put $1.85 to $1.90 into range for shares of CIS.

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