7 Stocks Under $10 Streaking Higher
From a technical perspective, PTIE is spiking higher here with decent volume. This move is coming after the stock took out its 50-day moving average on Wednesday at $3.80. Traders should now look for long-biased trades once PTIE triggers its next major breakout. That breakout will trigger once PTIE takes out its 200-day moving average of $4.07, and then some near-term overhead resistance at $4.20 with high volume.
Look for PTIE to sustain a move or close over those levels with volume that's near or above 173,002 shares. If we get that action soon, then PTIE could easily re-test its 2012 high of $4.53, or its next significant overhead resistance level at $4.84. Keep in mind, that PTIE will need to sustain a trend above its 200-day at $4.07 with strong volume, to give it a chance at making that larger move.
To see more stocks under-$10 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.
This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.