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4 Stocks Under $10 Making Big Moves

Universal Insurance

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Universal Insurance ( UVE) is a vertically integrated insurance holding company that, through its various subsidiaries, covers substantially all aspects of insurance underwriting, distribution, claims processing and exposure management. This stock is trading up 3.2% to $7.10 in recent trading.

Today's Range: $6.89-$7.17
52-Week Range: $3.01-$8.10
Volume: 123,000
Three-Month Average Volume: 329,573

>>5 Stocks Under $10 Set to Soar

From a technical perspective, UVE is trending higher here right above its 50-day moving average at $6.67 with lighter-than-average volume. This stock has been trending sideways for the last month and change, with shares moving between $6.50 on the downside and $7.39 on the upside. Shares of UVE are now starting to move within range of triggering a breakout trade above the upper-end of its recent sideways chart pattern. That breakout will hit if UVE clears some near-term overhead resistance levels at $7.39 to its 52-week high at $8.10 with high volume.

Traders should now look for long-biased trades in UVE as long as it's trending above its 50-day at $6.67 or above more support at $6.50 and then once it sustains a move or close above those breakout levels with volume that hits near or above 329,573 shares. If that breakout triggers soon, then UVE will set up to enter new 52-week-high territory above $8.10, which is bullish technical price action. Some possible upside targets off that breakout are $9 to $10.
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