Another under-$10 stock that's starting to move into range of triggering a major breakout trade is pSivida (PSDV), which develops tiny, sustained-release, drug delivery products designed to deliver drugs at a controlled and steady rate for months or years. This stock has been crazy hot in 2013, with shares up a whopping 100%.
If you take a look at the chart for pSivida, you'll notice that this stock has been trending sideways in a consolidation pattern for the last two months, with shares moving between $1.95 on the downside and around $2.50 on the upside. Shares of PSDV have just started to bounce off its 50-day moving average at $2.20 a share, and that move is quickly pushing the stock within range of triggering a major breakout trade above the upper end of its recent range.
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