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TheStreet Open House

8 Stocks Under $10 Trending Sharply Higher

Boulder Brands

Boulder Brands ( BDBD) is a marketer of functional food products under the Smart Balance, Earth Balance and Bestlife trademarks. This stock closed up 2.5% to $9.85 on Tuesday.

Tuesday's Range: $9.60-$9.95
52-Week Range: $5.56-$13.99
Volume: 469,000
Three-Month Average Volume: 1.04 million

From a technical perspective, BDBD bounced modestly higher here right off some near-term support at $9.50 with lighter-than-average volume. This stock has been uptrending for the last month and change, with shares pushing higher from its low of $8.16 to its recent high of $9.99. During that move, shares of BDBD have been mostly making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of BDBD within range of triggering a major breakout trade. That trade will hit BDBD manages to take out some near-term overhead resistance levels at $9.80 to $9.99 with high volume.

Traders should now look for long-biased trades in BDBD as long as it's trending above some key near-term support at $9.50 or above its 50-day at $9.02 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.04 million shares. If that breakout hits soon, then BDBD will set up to re-test or possibly take out its next major overhead resistance levels at its 200-day moving average of $11.29 to $12, or even $13.

MEI Pharma

MEI Pharma ( MEIP) is developing cancer therapeutics based on the central design of naturally occurring compounds called isoflavones. This stock closed up 3.5% to $9.24 on Tuesday.

Tuesday's Range: $8.87-$9.30
52-Week Range: $1.98-$13.20
Volume: 56,000
Three-Month Average Volume: 94,413

From a technical perspective, MEIP bounced higher here right above its 50-day moving average of $8.46 with lighter-than-average volume. This stock has been trending sideways in a tight consolidation pattern for the last two months, with shares moving between $7.29 on the downside and $9.65 on the upside. Shares of MEIP are now finding support at its 50-day and it's quickly moving within range of triggering a major breakout. That breakout will hit if MEIP manages to take out some key near-term overhead resistance levels at $9.50 to $9.65 with high volume.

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