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.
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