5 Stocks Under $10 Poised for Gains
Advanced Micro Devices
Another under-$10 name that could be gearing up for some decent upside is Advanced Micro Devices (AMD), a global semiconductor company with facilities globally. This stock is out the gate strong in 2012, with shares up over 40% so far.
If you take a look at the chart for Advanced Micro Devices, you'll notice that this stock has been uptrending strong since the start of the year, with shares soaring from around $5 to a recent high of $8.35 a share. During that run-up, this stock has consistently made higher lows and higher highs which is bullish technical price action. That said, this stock just ran into selling pressure at $8.33 to $8.35 a share, and has pulled back to its 50-day moving average of $7.59 a share. If that 50-day and recent low of $7.52 can hold up here, then AMD could be a good buy entry.
Traders should now look for long-biased trades in AMD if it can manage to continue its trend above $7.52 a share with strong upside volume flows. If that level does hold up for AMD, then this stock should re-test its recent highs of $8.33 to $8.35 pretty quickly. If we get that move to the highs, then watch for a high-volume breakout to trigger over $8.35.Look for volume on that move that's near or well above its three-month average action of 16.4 million shares. Target a run up towards $9.17 to $9.60 if that breakout triggers with volume soon. AMD shows up on a recent list of 10 Stocks That Boosted First-Quarter Mutual Fund Returns.
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