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5 Stocks Under $10 Set to Soar

Raptor Pharmaceuticals

One more under-$10 stock that's trending very close to triggering a near-term breakout trade is Raptor Pharmaceuticals (RPTP - Get Report), which researches, produces and delivers medicines. Its pipeline includes both candidates from its proprietary drug targeting platforms and in-licensed and acquired product candidates. This stock has trended lower so far in 2013, with shares off by 9.9%.

If you take a look at the chart for Raptor Pharmaceuticals, you'll see that this stock has just started to trend back above its 200-day moving average of $5.20 a share with heavy upside volume flows. This move is quickly pushing shares of RPTP within range of triggering a near-term breakout trade.

Traders should now look for long-biased trades in RPTP if it manages to break out above some near-term overhead resistance at $5.29 a share to its 50-day at $5.40 a share and then above more resistance at $5.56 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 403,825 shares. If that breakout triggers soon, then RPTP will set up to re-test or possibly take out its next major overhead resistance levels at $5.95 to $6.28 a share. Any high-volume move above $6.28 will then put $7 to $7.50 into range for shares of RPTP.

Traders can look to buy RPTP off any weakness to anticipate that breakout and simply use a stop that sits right below its 200-day at $5.20 a share or around $5 a share. One could also buy RPTP off strength once it clears those breakout levels with volume and then simply use the same stop that sits just below its 200-day at $5.20 a share. I would add to either position if RPTP takes out $5.56 a share with volume.

To see more hot under-$10 equities, check out the Stocks Under $10 Setting Up to Explode portfolio on Stockpickr.

-- Written by Roberto Pedone in Winderemere, Fla.


Follow Stockpickr on Twitter and become a fan on Facebook.

At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including and . You can follow Pedone on Twitter at or @zerosum24.
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