Another under-$10 stock that could be a buying opportunity at current levels is biotechnology company Threshold Pharmaceuticals (THLD). This stock is one of the top stocks in 2012, with shares up over 390%.
If you take a look at the chart for Threshold Pharmaceuticals, you'll notice that this stock made a monster move during the last two months, from $1.27 a share to its recent high of $9.07 a share. During that run-up, the stock has gapped up a number of times with huge volume, and it's triggered a bunch of breakouts with volume. That said, the stock has finally seen the sellers take the upper hand since it's just pulled back from $9.07 to around $6 a share. If this stock can now hold above its 50-day moving average, then it could be setting up for a solid buying opportunity if the bulls return.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
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
- Upgrade/downgrade alerts
- 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 + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV