Peregrine Semiconductor (PSMI), a fabless provider of high-performance radio frequency integrated circuits, is trading up 5.8% at $10.03 in recent trading.
Today's Volume: 396,000Average Volume: 157,418 Volume % Change: 279% >>5 Stocks Under $10 Triggering Breakouts From a technical perspective, PSMI is soaring higher here right above some near-term support at $9 with above-average volume. This move has also started to push shares of PSMI into breakout territory, since the stock has cleared some near-term overhead resistance levels at $9.73 to around $10. At last check, PSMI has hit an intraday high of $10.24 and volume is well above its three-month average action of 157,418 shares. Traders should now look for long-biased trades in PSMI as long as it's trending above today's low of $9.58, and then once it sustains a move or close above those breakout levels with volume that hits near or above 157,418 shares. If PSMI can maintain that trend, then this stock will set up to re-fill its previous gap down zone from earlier this month that started just above $11. Some possible upside targets could also be $12 to $13 if that gap gets filled with heavy volume.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV