This Day On The Street
Continue to site
ADVERTISEMENT
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 Trade Higher

Almaden Minerals

An under-$10 name in the gold and silver complex that looks poised for big upside from here is Almaden Minerals (AAU), which is engaged in the business of the acquisition, exploration and when warranted, development of mineral properties. This stock is off to a decent start in 2012, with shares up over 15% so far.

If you take a look at the chart for Almaden Minerals, you'll see that this stock had been trading within a sideways trading pattern for the last few weeks, between $2.36 on the downside and $2.69 on the upside. Shares of Almaden just broke out above that $2.69 level on decent volume. Now the stock is quickly approaching another major breakout if it can manage to take out some near-term overhead resistance levels.

Market players should look for long biased trades in AAU if this stock can manage to break out above some overhead resistance levels at $2.90 to $3.17 a share with high-volume. Look for volume on that move that's near or well above its three-month average action of 155,766 shares. If that breakout triggers soon, then look for AAU to trade back towards its next significant overhead resistance levels at $3.67 to $4.27 a share in the near future.

If you buy AAU off of strength on a move over $2.90, then I would simply use a stop that's a few percentage points below that $2.90 breakout level, and maybe even down towards the last breakout level at $2.69 a share.

4 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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
BONE $4.18 -0.48%
ZN $1.96 -1.01%
AAU $0.82 1.68%
DNN $0.95 0.00%
KNDI $12.45 2.05%

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs