Stocks Under $10 Trending Higher: Net 1 Ueps

DELAFIELD, Wis. (Stockpickr) -- Net 1 Ueps Technologies (UEPS) provides payment solutions and transaction processing services for various industries in South Africa, Korea, Europe and internationally. This stock closed up 0.62% to $9.66 a share in Wednesday's trading session.

Wednesday's Range: $9.59-$9.88
52-Week Range: $5.49-$13.00
Thursday's Volume: 82,000
Three-Month Average Volume: 174,502

From a technical perspective, UEPS trended modestly higher here right above some near-term support at $9.50 with lighter-than-average volume. This move is starting to push shares of UEPS within range of triggering a major breakout trade. That trade will hit if UEPS manages to take out some key near-term overhead resistance levels at $10 to $10.19 with high volume.

Traders should now look for long-biased trades in UEPS as long as it's trending above some near-term support at $9.50 or above its 200-day at $9.13 and then once it sustains a move or close above those breakout levels with volume that hits near or above 174,502 shares. If that breakout hits soon, then UEPS will set up to re-fill some of its previous gap-down-day zone from last November that started at $11.50.

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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