Empresas fka ICA

[chmcnfunds]

5 Stocks Under $10 Making Big Moves

BY Roberto Pedone| 11/15/13 - 08:15 AM EST

Empresas ICA

Empresas ICA (ICA) is engaged in construction and related activities, including the construction of infrastructure facilities as well as industrial, urban and housing construction. This stock closed up 4.2% to $7.39 in Thursday's trading session.

Thursday's Range: $7.05-$7.51
52-Week Range: $6.14-$13.73
Thursday's Volume: 857,000
Three-Month Average Volume: 506,189

From a technical perspective, ICA ripped higher here right off some near-term support at $7 with above-average volume. This stock has been downtrending badly for the last month and change, with shares moving lower from its high of $9.34 to its recent low of $6.85. During that downtrend, shares of ICA have been consistently making lower highs and lower lows, which is bearish technical price action. That said, this bounce higher on Thursday could be signaling that the downside volatility for shares of ICA is over in the short-term, and the stock is ready to bounce higher.

Traders should now look for long-biased trades in ICA as long as it's trending above some key near-term support at $6.85 and then once it sustains a move or close above Thursday's high of $7.51 with volume that hits near or above 506,189 shares. If we get that move soon, then ICA will set up to re-test or possibly take out its next major overhead resistance levels at $8 to its 50-day moving average at $8.31. Any high-volume move above $8.3 will then give ICA a chance to tag $9 to $9.20.
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http://www.thestreet.com/story/12110911/1/5-stocks-under-10-making-big-moves.html

ICA