Traders should now look for long-biased trades in PEIX as long as it's trending above 35 cents per share, and then once it sustains a move or close above those breakout levels with volume that hits near or above 2.04 million shares. If that breakout triggers soon, then PEIX will set up to re-fill some of its previous gap down zone from last September that started near 60 cents per share. Any high-volume move above 60 cents per share will then put 70 to 75 cents per share into range for shares of PEIX.

To see more stocks 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 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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