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

Suntech Power Holdings

One under-$10 stock that's trading very close to some key breakout levels is solar energy player Suntech Power Holdings (STP). This stock is off to a monster start in 2012, with shares up around 40%.

If you take a look at the chart for Suntech Power, you'll notice that this stock has been crushed from its August high of $7.77 to its recent low of $1.70 a share. After hitting that low in October, this stock has started to trend higher and make higher lows, which is bullish price action. Now STP is approaching a major breakout level that's worth watching for higher prices.

Market players should put STP on their breakout trading radar if this stock can sustain a high-volume move and close above $3.31 to $3.44 a share. Look for volume on that's near or well above its three-month average action of 3.41 million shares, if those levels get taken out soon. If we get that action, then this stock could easily trend back towards its 200-day moving average of $5.35 a share.

If you're bullish STP, you could just wait for the breakout to trigger and buy the stock off strength. I would simply use a mental stop that's a few percentage points below $3.31 a share. You could also buy off weakness and simply use a mental stop that's right below $2.90 a share and anticipate the breakout.

It's worth pointing out that this stock has a high short interest since 9.4% of the tradable float currently sold short by the bears. If we see a high-volume move over $3.31 to $3.44 a share soon, then a monster short squeeze could easily kick off since it looks like the bears are defending those resistance levels.
2 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
STP $0.53 0.00%
ASTI $0.05 0.00%
FOLD $7.07 -6.11%
INFN $11.52 -2.87%
UEC $0.80 -3.49%


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