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
TheStreet Open House

5 Stocks Under $10 Setting Up to Trade Higher

Bacterin International

another under-$10 stock that has big upside potential is Bacterin International (BONE), which develops, manufactures and markets biologics products to domestic and international markets through Bacterin's biologics division. This stock is off to a slow start in 2012, with shares up around 7%.

Northland Securities started coverage on Bacterin International today with an outperform rating and a $4.80 price target. Noble Financial also started coverage on the stock today with a buy rating and a $6.50 price target.

If you take a look at the chart for Bacterin International, you'll notice that this stock has been uptrending strong since buyers stepped in last December at around $1.96 a share. During that uptrend, the stock has been making mostly higher lows and higher highs, which is bullish price action. Now shares of Bacterin International are trading within range of triggering a big breakout. Volume today is also off the charts, since at last check over 1.12 million shares have traded versus its three-month average action of 164,636 shares.

Traders should now look for long-biased trades in BONE if this stock can manage to take out some near-term overhead resistance at $3.03 a share with heavy volume. Look for volume on that move that registers near or well above its three-month average volume of 164,636 shares.

If we get that action today or soon, then look for a big spike in BONE back towards its next significant overhead resistance levels at $3.40 to $3.93 a share, or possibly much higher. At last check, BONE has hit a daily high of $3.01 and the volume is huge, so that breakout could trigger today. Keep in mind that a close over $3.03 would be even more bullish than just an intraday move.

If you get long BONE off a sustained high-volume move and close over $3.03 a share, then I would look to use a stop that's a few percentage points below $3 a share, in case this breakout fails to hold and send the stock off to the races.

5 of 6

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!
DOW 17,146.55 +14.58 0.09%
S&P 500 2,001.15 +2.17 0.11%
NASDAQ 4,560.3180 +7.5590 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs