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TheStreet Open House

4 Tech Stocks Under $10 Triggering Breakout Trades

FalconStor Software

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FalconStor Software ( FALC) provides disk-based data protection. This stock closed up 11.7% to $1.33 a share in Thursday's trading session.

Thursday's Range: $1.14-$1.36
52-Week Range: $0.88-$2.89
Thursday's Volume: 627,000
Three-Month Average Volume: 264,280

>>5 Stocks Set to Soar on Bullish Earnings

From a technical perspective, FALC skyrocketed higher here right above some near-term support at $1.10 with strong upside volume flows. This stock had been downtrending badly for the last three months, with shares falling from its high of $1.90 to its recent low of 88 cents per share. After hitting that low, shares of FALC have reversed its downtrend and entered a new uptrend. That move has now pushed shares of FALC within range of triggering a near-term breakout trade. That trade will hit if FALC manages to take out Thursday's high of $1.36 and then once it clears some past resistance at $1.43 with high volume.

Traders should now look for long-biased trades in FALC as long as it's trending above $1.20 or above Thursday's low of $1.14 and then once it sustains a move or close above those breakout levels with volume that hits near or above 264,280 shares. If that breakout hits soon, then FALC will set up to re-test or possibly take out its next major overhead resistance levels at $1.90 to $2.20.

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