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TheStreet Open House

5 Stocks Under $10 Moving Higher

Sunshine Heart

Sunshine Heart (SSH) is an early-stage medical device company focused on developing, manufacturing and commercializing its C-Pulse Heart Assist System for treatment of Class III and ambulatory Class IV heart failure. This stock is trading up 7.5% to $6.83 in recent trading.

Today's Range: $6.56-$6.90

52-Week Range: $2.50-$22.90

Volume: 90,000

Three-Month Average Volume: 65,389

From a technical perspective, SSH is spiking higher here right above its 50-day moving average of $6.33 with above-average volume. This stock has been uptrending strong for the last few weeks, with shares soaring higher from its low of $5.21 to its intraday high of $6.99. During that move, shares of SSH have been consistently making higher lows and higher highs, which is bullish technical price action.

That move has now pushed shares of SSH within range of triggering a major breakout trade, which will hit if SSH manages to take out its 200-day moving average of $7.07 and then once it clears more past resistance levels at $7.50 $7.65 with high volume.

Traders should now look for long-biased trades in SSH as long as it's trending above its 50-day at $6.33, and then once it sustains a move or close above those breakout levels with volume that hits near or above 65,389 shares. If that breakout triggers soon, then SSH will set up to re-test or possibly take out its next major overhead resistance levels at $8.50 to $9.80.

Semiconductor Manufacturing International

Semiconductor Manufacturing International (SMI) is an advanced foundry in Mainland China, providing integrated circuit foundry and technology services at 0.35-micron to 40-nanometer. This stock is trading up 5.4% to $3.11 in recent trading.

Today's Range: $9.36-$10.08

52-Week Range: $7.77-$11.71

Volume: 40,000

Three-Month Average Volume: 187,096

From a technical perspective, SMI is ripping higher here right off some near-term support at $2.95 with lighter-than-average volume. This stock has been trending sideways for the last month, with shares moving between $2.95 on the downside and $3.24 on the upside. Shares of SMI are now quickly moving within range of breaking out above the upper-end of its recent sideways chart pattern. That breakout will trigger if SMI manages to clear some near-term overhead resistance levels at $3.19 to $3.24 with high volume.

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