Star Scientific

Star Scientific ( STSI) is a technology-oriented company with a mission to promote maintenance of a healthy metabolism and lifestyle. This stock closed up 6.9% to $1.53 on Thursday.

Thursday's Range: $1.40-$1.53
52-Week Range: $1.15-$5.05
Volume: 1.41 million
Three-Month Average Volume: 1.44 million

>>3 Health Care Stocks Under $10 to Watch

From a technical perspective, STSI bounced strongly higher here right off its 50-day moving average of $1.40 with decent upside volume. This stock has been uptrending strong for the last month, with shares moving higher from its low of $1.15 to its recent high of $1.63. During that uptrend, shares of STSI have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of STSI within range of triggering a major breakout trade. That trade will hit if STSI manages to take out some near-term overhead resistance levels at $1.55 to $1.63 and then once it clears some past resistance at $1.73 with high volume.

Traders should now look for long-biased trades in STSI as long as it's trending above its 50-day at $1.40 or above some more key support at $1.31, and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.44 million shares. If that breakout triggers soon, then STSI will set up to re-test or possibly take out its next major overhead resistance levels at $2 to $2.13. Any high-volume move above those levels will then put its 200-day at $2.44 into range for shares of STSI.

Pacific Sunwear of California

Pacific Sunwear of California ( PSUN) sells a combination of branded and proprietary casual apparel, accessories and footwear designed to appeal to teens and young adults. This stock closed up 2.1% to $3.36 on Thursday.

Thursday's Range: $3.24-$3.39
52-Week Range: $1.36-$3.45
Volume: 456,000
Three-Month Average Volume: 484,485

From a technical perspective, PSUN spiked modestly higher here right off some near-term support at $3.20 with decent upside volume. This stock has been uptrending strong for the last six months, with shares soaring higher from its low of $1.36 to its recent high of $3.45. During that uptrend, shares of PSUN have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of PSUN within range of triggering a major breakout trade. That trade will hit if PSUN manages to clear some near-term overhead resistance levels at $3.42 to its 52-week high at $3.45 with high volume.

Traders should now look for long-biased trades in PSUN as long as it's trending above some key near-term support levels at $3.20 to $3.15, and then once it sustains a move or close above those breakout levels with volume that hits near or above 484,485 shares. If that breakout triggers soon, then PSUN will set up to enter new 52-week high territory, which is bullish technical price action. Some possible upside targets off that breakout are $4 to $4.50, or even $5.

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 Madison, Wis.

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

Roberto Pedone, based out of Madison, 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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