Silvercorp Metals

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Silvercorp Metals ( SVM) is engaged in the acquisition, exploration, development and mining of silver-related mineral properties in China and Canada. This stock is trading up 5.8% to $5.87 in recent trading.

Today's Range: $5.66-$5.99

52-Week Range: $4.89-$10.08

Volume: 1.4 million

Three-Month Average Volume: 1.2 million

From a technical perspective, SVM is gapping up sharply here back above its 50-day moving average of $5.50, and it's taken out some near-term overhead resistance at $5.60 with above average volume. This move is quickly pushing SVM within range of triggering a near-term breakout trade. That trade will hit once SVM clears some near-term overhead resistance at $6 with high volume.

Traders should now look for long-biased trades once SVM sustains a move or close above $6 with volume that's near or above 1,224,720 shares. At last check, SVM has hit an intraday high of $6 and volume is well above its three-month average of 1.2 million shares. If that breakout triggers soon, then SVM has a great chance of re-testing and possibly taking out its next significant overhead resistance levels at $6.57 to $7.28. Traders should now use the 50-day at $5.50 to key off of for near-term support.

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

-- Written by Roberto Pedone in Winderemere, Fla.


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

Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on stocks, options, futures, commodities and currencies. He is also an outside contributor to and maintains the website, which he sold to Blue Wave Advisors in 2008. Roberto studied International Business at The Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany.

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