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5 Stocks Under $10 Making Big Moves

Shanda Games

Shanda Games ( GAME) develops, sources, and operates online games in the People’s Republic of China. This stock closed up 9.6% to $4.43 in Thursday's trading session.

Thursday's Range: $4.00-$4.48
52-Week Range: $2.68-$6.42
Thursday's Volume: 2.15 million
Three-Month Average Volume: 1.65 million

From a technical perspective, GAME skyrocketed higher here back above its 50-day moving average of $4.25 with strong upside volume. This move is starting to push shares of GAME within range of triggering a big breakout trade. That trade will hit if GAME manages to take out Thursday's high of $4.48 to some more near-term overhead resistance levels at $4.89 to $4.97 with high volume.

Traders should now look for long-biased trades in GAME as long as it's trending above Thursday's low of $4 or above its 200-day at $3.71 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.65 million shares. If that breakout triggers soon, then GAME will set up to re-test or possibly take out its 52-week high at $6.42.

Reeds

Reeds ( REED) develops, manufactures, markets and sells natural non-alcoholic and New Age beverages, candies and ice creams. This stock closed up 4.6% to $6.48 in Thursday's trading session.

Thursday's Range: $6.26-$6.49
52-Week Range: $3.80-$8.35
Thursday's Volume: 92,000
Three-Month Average Volume: 45,857

From a technical perspective, REED ripped higher here with above-average volume. This stock recently formed a triple bottom chart pattern $5.03, $5.05 and $5.14. That bottom pattern occurred right around its 200-day moving average. Following that bottom, shares of REED have now spiked higher back above its 50-day moving average and it's now quickly moving within range of triggering a near-term breakout trade. That trade will hit if REED manages to take out Thursday's high of $6.49 to some more resistance at $6.65 with high volume.

Traders should now look for long-biased trades in REED as long as it's trending above $6 or $5.80 and then once it sustains a move or close above those breakout levels with volume that hits near or above 45,857 shares. If that breakout hits soon, then REED will set up to re-test or possibly take out its next major overhead resistance levels at $8 to $8.80.
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SYM TRADE IT LAST %CHG
GSE $0.00 0.00%
DLIA $0.00 21.95%
GAME $6.45 0.47%
KEM $2.26 5.40%
REED $5.27 1.30%

Markets

Chart of I:DJI
DOW 16,374.76 +23.38 0.14%
S&P 500 1,951.13 +2.27 0.12%
NASDAQ 4,733.4970 -16.4820 -0.35%

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