One more under-$10 stock that's setting up for a big breakout and potential monster move higher clinical documentation solutions provider to the health care sector MedQuist Holdings (MEDH). This stock has traded virtually flat in 2011, with shares off by just 0.33%. That said, if a near-term technical breakout triggers, then we could see a big pop that will put flat performance in the rearview mirror.
If you take a look at the chart for MedQuist, you'll notice that this stock was hammered from its August high of $13.77 to a recent low of $6.21 a share. After printing that low, the stock has rebounded sharply to its current price of around $9 a share. During that rebound, the stock has started to make higher lows and higher highs, which is bullish price action for any stock. The stock now sets up for a big breakout if some past overhead resistance can be taken out to the upside.
Twitter and become a fan on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV