3 Stocks Under $10 to Trade for Breakouts
BY
Roberto PedoneFollow|07/30/14 - 06:00 AM EDT
NQ Mobile (
NQ) provides mobile Internet services in the areas of mobile security, privacy, productivity, personalized cloud and family protection. This stock closed up 4.7% to $6.90 in Tuesday's trading session.
Tuesday's Range: $6.56-$7.06
52-Week Range: $3.45-$25.90
Tuesday's Volume: 7.09 million
Three-Month Average Volume: 7.78 million
From a technical perspective, NQ jumped notably higher here right off its 50-day
moving averageof $6.74 with decent upside volume flows. This strong spike to the upside on Tuesday is quickly pushing shares of NQ within range of triggering a major breakout trade. That trade will hit if NQ manages to take out some key near-term overhead resistance levels at $7.18 to $7.64 and then above $8 with high volume.
Traders should now look for long-biased trades in NQ as long as it's trending above Tuesday's intraday low of $6.56 or above more near-term support at $6 and then once it sustains a move or close above those
breakout levels with volume that hits near or above 7.78 million shares. If that breakout gets underway soon, then NQ will set up to re-test or possibly take out its next major overhead resistance levels at $8 to $10.
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.
