Traders should now look for long-biased trades in PEIX as long as it's trending above 35 cents per share, and then once it sustains a move or close above those breakout levels with volume that hits near or above 2.04 million shares. If that breakout triggers soon, then PEIX will set up to re-fill some of its previous gap down zone from last September that started near 60 cents per share. Any high-volume move above 60 cents per share will then put 70 to 75 cents per share into range for shares of PEIX.
To see more stocks that are making notable moves higher today, check out the Stocks Under $10 Moving Higher portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.
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