Stocks Under $10 Near Trend Line Support

NEW YORK (Stockpickr) -- Get ready to trade with today's set of stocks near trend line support .

Trend lines, which connect two or more stock price points, are a key aspect of technical analysis, defining price movement and indicating entry and exit points. Trend line support is an area that a stock's share price has difficulty moving below, the opposite of resistance, which indicates an area that the price has difficulty moving above. Identifying support levels can give traders insight into when to pull the trigger on a trade and how to minimize downside risk.

Trend line support is forecast by a positive-sloping trend line based on the formation of increasing support levels as time has progressed. Horizontal support, a type of trend line support, occurs at a point at which many buyers have historically entered a stock, thereby consistently buoying the price at that level.

Generally speaking, buying opportunities exist when a stock bounces off a long-term trend line, and shorting opportunities exist when a stock breaks downward through a long-term uptrend line.

To learn more about trend line trading and the different kinds of support levels to watch for, read our technical primer on trend line support.

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The following stocks were trading near their trend line support today, according to the Finviz Trend Line Support Screener.

Ashford Hospitality Trust(AHT) is a real estate investment trust that operates in two business segments: direct hotel investments and hotel financing. The company is within the financial sector and the real estate industry.

               

The chart for Ashford Hospitality Trust is showing possible trend line support at around $7.00. Currently the stock is trading 1.38% above its 20-day simple moving average, 5.22% below its 50-day simple moving average, and 38.03% above its 200-day simple moving average. Furthermore, the stock is trading 20.17% below its 52-week high and 259.07% above its 52-week low. Ashford Hospitality Trust has a market cap of $397.36 million and the short float is currently at 18.03%. The RSI is currently at 49.85.

Clearwire(CLWR) builds and operates next generation wireless broadband networks that enable fast, simple, portable, reliable and affordable Internet communications. The company is within the technology sector and the telecommunications industry.