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>>3 Stocks Under $10 in Breakout Territory
From a technical perspective, RDWR jumped higher here right off its 50-day moving average of $14.44 with above-average volume. This stock has been trending sideways inside of a consolidation chart pattern for the last four months, with shares moving between $13.42 on the downside and $16.11 on the upside. This spike higher on Monday is now starting to push shares of RDWR within range of triggering a breakout trade above the upper-end of its sideways trading chart pattern. That trade will hit if RDWR manages to clear some near-term overhead resistance levels at $15.33 to $16.11 and then once it takes out its 200-day moving average at $16.13 with high volume.
Traders should now look for long-biased trades in RDWR as long as it's trending above its 50-day at $14.44 and then once it sustains a move or close above those breakout levels with volume that's near or above 234,812 shares. If that breakout hits soon, then RDWR will set up to re-fill some of its previous gap down zone from April that started near $19.
To see more stocks rising on unusual volume, check out the
Stocks Rising on Unusual Volume portfolio on Stockpickr.
-- Written by Roberto Pedone in Delafield, Wis.
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