Net 1 UEPS Technologies
Another under-$10 name that's rapidly approaching a major breakout trade is Net 1 UEPS Technologies ( UEPS), which provides a smart-card based alternative payment system for the unbanked and underbanked populations of developing economies. This stock has been on fire so far in 2013, with shares up big by 52%.
If you take a look at the chart for Net 1 UEPS Technologies, you'll notice that this stock has been uptrending strong for the last six months, with shares soaring higher from its low of $3.01 to its recent high of $7.95 a share. During that uptrend, shares of UEPS have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of UEPS within range of triggering a major breakout trade.
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