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4 Under-$10 Stocks Making Big Moves

JinkoSolar

JinkoSolar (JKS - Get Report) is fast-growing solar product manufacturer manufacturing high quality ingot, wafer, solar cell and solar module products all along the photovoltaic industry chain, with global network. This stock is trading up 6.1% to $5.73 in recent trading.

Today's Range: $5.32-$5.93
52-Week Range: $2.00-$10.07
Volume: 252,000
Three-Month Average Volume: 391,869

From a technical perspective, JKS is ripping higher here right above its 50-day moving average at $6.52 with decent upside volume. This stock has been uptrending modestly higher here for the last few weeks, with shares trending up from its low of $3.96 to its recent high of $6.23. During that move, shares of JKS have been mostly making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of JKS within range of triggering a near-term breakout trade. That trade will hit if JKS manages to take out some near-term overhead resistance levels at $6.23 to its 50-day at $6.52 with high volume.

Traders should now look for long-biased trades in JKS as long as it's trending above today's low of $5.32 and then once it sustains a move or close above those breakout levels with volume that hits near or above 391,869 shares. If that breakout triggers soon, then JKS will set up to re-test or possibly take out its next major overhead resistance levels at $7 to $7.50.

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 Madison, Wis.

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

Roberto Pedone, based out of Madison, Wis., 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
CNBC.com and Forbes.com . You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.
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