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Stocks Under $10 with 50-100% upside potential - 14 days FREE!

5 Stocks Under $10 in Breakout Territory

Stocks in this article: GCA MCP KNDI GFA OIBR

Global Cash Access

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Global Cash Access ( GCA) is a global provider of innovative cash access and data intelligence services and solutions to the gaming industry. This stock closed up 2% to $8 in Tuesday's trading session.

Tuesday's Range: $7.82-$8.00
52-Week Range: $5.71-$8.46
Tuesday's Volume: 442,000
Three-Month Average Volume: 502,128

From a technical perspective, GCA spiked modestly higher here right off some near-term support at $7.80 with decent upside volume. This stock has been trending sideways inside of a consolidation pattern for the last month and change, with shares moving between $7.50 on the downside and $8.17 on the upside. Shares of GCA are now starting to move within range of triggering a major breakout trade above the upper-end of its recent sideways trading chart pattern. That trade will hit if GCA manages to take out some near-term overhead resistance levels at $8.03 to $8.17 and then once it clears more past resistance at $8.50 to $8.71 with high volume.

Traders should now look for long-biased trades in GCA as long as it's trending above its 50-day at $7.43 and then once it sustains a move or close above those breakout levels with volume that hits near or above 502,128 shares. If that breakout hits soon, then GCA will set up to enter new 52-week-high territory above $8.46, which is bullish technical price action. Some possible upside targets off that breakout are $10 to $11.

To see more stocks that are making notable moves higher today, check out the Stocks Under $10 Moving Higher portfolio on Stockpickr.

-- Written by Roberto Pedone in Delafield, Wis.

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Follow Stockpickr on Twitter and become a fan on Facebook.

At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Delafield, Wis., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.

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