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

2 Stocks Under $10 to Watch

Stocks in this article: GRPN QRM

Traders should now look for long-biased trades in GRPN as long as it's trending above Tuesday's low of $7.87 or above its recent low of $7.67 and then once it sustains a move or close above those breakout levels with volume that hits near or above 19.49 million shares. If that breakout gets underway soon, then GRPN will set up to re-fill some of its previous gap-down-day zone that started just over $10.

Quest Rare Minerals (QRM), an exploration stage company, engages in the identification and discovery of rare earth deposits in Canada. This stock closed up 3.5% to 49 cents per share in Tuesday's trading session.

Tuesday's Range: $0.47-$0.51
52-Week Range: $0.39-$1.00
Tuesday's Volume: 621,000
Three-Month Average Volume: 246,028

From a technical perspective, QRM bounced notably higher here right off its 50-day moving average of 46 cents per share with above-average volume. This move briefly pushed shares of QRM into breakout territory, since QRM flirted with some near-term overhead resistance at 50 cents per share. This spike on Tuesday is now starting to push shares of QRM within range of triggering a big breakout trade. That trade will hit if QRM manages to take out Tuesday's high of 52 cents per share and then once it clears 55 cents to its 200-day moving average of 58 cents per share with high volume.

Traders should now look for long-biased trades in QRM as long as it's trending above its 50-day at 46 cents per share or above more support at 44 cents per share and then once it sustains a move or close above those breakout levels with volume that hits near or above 246,028 shares. If that breakout kicks off soon, then QRM will set up to re-test or possibly take out its next major overhead resistance levels at 65 to 80 cents per share.

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

-- Written by Roberto Pedone in Delafield, Wis.

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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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