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5 Under-$10 Stocks Set to Soar

VisionChina Media

One final under-$10 stock that's nearing some key breakout levels on monster upside volume is VisionChina Media (VISN). This company operates out-of-home advertising network using mobile digital television broadcasts to deliver content and advertising on mass transportation systems in the People's Republic of China. This stock has been crushed by the bears in 2011 with shares off by over 70%.

If you take a look at the chart for VisionMedia, you'll see that this stock bottomed in late November at $1.08 a share. Since hitting that bottom, the stock has started to trend sideways between $1.41 and $1.22 for most of December. Shares of VISN are now bouncing big today by over 7% at $1.37 on monster volume. At last check, volume has already registered over 9.6 million shares, which is well above its three-month average action of 267,010 shares. This huge volume spike is now pushing the stock close to some key breakout levels.

Market players should now watch VISN for a breakout trade if the stock can sustain a move and close above $1.41 to $1.45 (50-day) with volume. Of course the volume is already there today, so watch to see how the stock closes, and watch for any follow throw upside days with heavy volume. If we get that close soon above $1.41 to $1.45 with volume, then look for VISN to make a quick run at $1.64 a share. If $1.64 gets taken out with volume, then look for a run back towards $1.90 to $2.57 (200-day).

One could be a buyer of this stock off any noticeable weakness and simply use a mental stop just below $1.22 a share. You could also buy off strength and get long once $1.41 to $1.45 is taken out to the upside with volume. I would then add to any long positions once $1.64 is also taken out with high-volume.

To see more hot under-$10 stocks that could be poised for higher prices, check out the Stocks Under-$10 Setting Up To Trade Higher portfolio on Stockpickr.

-- Written by Roberto Pedone in Winderemere, Fla.

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Stock quotes in this article: CWTR, CTIC, BCRX, DXCM, VISN, ACFC, DEAL, UPG, CRME 
At the time of publication, author had no positions in stocks mentioned.
Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on stocks, options, futures, commodities and currencies. He is also an outside contributor to Beconequity.com and maintains the website Maddmoney.net, which he sold to Blue Wave Advisors in 2008. Roberto studied International Business at The Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany.

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