One more under-$10 stock that's trading within range of triggering a major breakout trade is 8x8 ( EGHT), which offers voice, video, mobile and unified communications solutions for business of all sizes. This stock has been on fire so far in 2012, with shares up by over 110%. If you take a look at the chart for 8x8, you'll notice that this stock has been uptrending very strong for the last six months, with shares soaring from a low of $3.80 to its recent high of $7.02 a share. During that uptrend, shares of EGHT have been making higher lows and high highs, which is bullish technical price action. The stock recently pulled back off $7.02 to a low of $5.62 a share, but it's started to rebound back above its 50-day and move within range of triggering a major breakout trade. Traders should now look for long-biased trades in EGHT once it manages to break out above some near-term overhead resistance at $6.55 to $7.02 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 850,540 shares. If that breakout triggers soon, then EGHT will have a great chance of hitting $8 to $10 a share or possible even higher. One could look to buy EGHT off weakness to anticipate that breakout, and simply use a stop that sits right around its 50-day at $6.21 a share. One could also buy off strength once EGHT clears $6.55 to $7.02 a share with high volume and then simply use the same stop at around $6.21 a share. To see more hot under-$10 equities, check out the Stocks Under $10 Setting Up to Explode portfolio on Stockpickr. -- Written by Roberto Pedone in Winderemere, Fla.
Shares of Motricity (Nasdaq:MOTR) were gapping down Friday morning with an open price 16.7% lower than Thursday's closing price. The stock closed at $1.32 yesterday and opened today's trading at $1.10.