Another under-$10 stock that's moving within range of triggering a breakout trade is Phoenix Companies (PNX - Get Report). This company provides life insurance and annuity products through third-party distributors, supported by wholesalers and financial planning specialists employed by it. This stock is up nicely so far in 2012, with shares registering a 33% gain.
If you take a look at the chart for Phoenix Companies, you'll notice that this stock has been uptrending strong for the past six months, soaring from its low in October at 97 cents per share to its recent high of $2.69 a share. This stock recently pulled back off that $2.69 high and tagged its 200-day moving of $1.91 a share, where buyers stepped back into the stock. Now PNX has moved back above its 50-day moving average of $2.16, and it's trading within range of triggering some near-term breakouts.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts