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5 Stocks Under $10 With Big Upside Potential

Antares Pharmaceuticals

Another under-$10 name that's already started to trigger a major breakout is Antares Pharmaceuticals (AIS), a pharmaceutical company that focuses on self-injection pharmaceutical products and technologies and gel-based products. Wall Street bulls seem to love this stock; shares are off to a very hot start in 2011 up over 55%.

If you take a look at the chart for Antares Pharma, you'll see that this stock took a dive from its July high of $2.65 to a recent low of $1.80 a share. Since printing that low, the stock has rebounded nicely to its current price of $2.68. This stock has now officially triggered a breakout trade since the shares have managed to close above some past overhead resistance at $2.65 on monster volume. Volume on Thursday hit 2 million, and volume on Wednesday (an up day) was 3.34 million, both well above the three-month average action of 699,943 shares.

>>Stocks Rising on Unusual Volume

One could now be a buyer of this stock off any noticeable weakness since shares have already closed in breakout territory. I would use a mental stop just below the 50-day moving average of $2.29 if you're looking to swing this for a longer-term trade. If you prefer to buy strength, than buy the next pullback and use a mental stop at around $2.50 to $2.40 a share.

It's worth mentioning that this stock has a decent short interest, with 8.8% of the tradable float sold short by the bears. The short-sellers have also been increasing their bets recently by 14.4%, or by about 1 million shares Now that a high-volume breakout has triggered for AIS, we could easily be in the early innings of a massive short-squeeze.
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