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>>5 Stocks Under $10 Making Big Moves
From a technical perspective, GCAP bounced sharply higher here right off some near-term support at $11.33 with solid upside volume. This stock has been downtrending for the last few weeks, with shares sliding lower from its high of $14.62 to its recent low of $11.33. During that downtrend, shares of GCAP have been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of GCAP have now started to rebound off that $11.33 low and the stock looks ready to see its downside volatility end in the short-term.
Traders should now look for long-biased trades in GCAP as long as it's trending above that low of $11.33 and then once it sustains a move or close above Wednesday's high of $12.40 and above more resistance at $13 with volume that hits near or above 240,517 shares. If we get that move soon, then CGAP will set up to re-test or possibly take out its all-time high at $14.62. Any high-volume move above $14.62 will then give GCAP a chance to hit $16 to $17.
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