This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

5 Stocks Under $10 Setting Up to Soar

Majesco Entertainment

Another under-$10 name that should be on your radar right now is video game maker Majesco Entertainment (COOL - Get Report). This stock has been a market leader in 2011, with shares up by a whopping 330%.

If you take a look at the chart for Majesco, you'll notice that this stock sold off hard from its June high of $4.53 to a recent low of $1.61 a share. Since hitting that low, the stock has rebound back to over $3 a share and its now nearing a major breakout. Traders should now be watching this stock for a breakout play if shares can manage to move above some past overhead resistance at $3.47 to $3.57 a share on heavy volume.

>>11 Stocks to Play the Groupon IPO

Volume on Thursday registered 2.29 million (an up day), which is well above its three-month average action of 1.31 million shares. Market players should now watch for any future breakout that shows a continuation of that high volume pattern. If we do indeed get the high volume breakout, then I think this stock can easily re-test its 52-week high of $4.53 a share.

One could be a buyer of this stock off any significant weakness and simply anticipate the breakout. I would use a mental stop just below some near-term support at $3 a share. A better way to play this is to simply buy the breakout once it takes out $3.47 to $3.57 with strong volume.

The current short interest as a percentage of the float for COOL is 5.5%. If we do see that breakout in the coming days or weeks, then look for a solid short-covering rally to materialize since the short interest is decent here.
3 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
AMCC $6.21 -2.36%
COOL $0.83 0.00%
CYTX $0.27 -9.80%
POWR $18.75 0.00%
AAPL $95.18 1.64%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs