5 Stocks Under $10 Poised for Gains
One under-$10 name in the supplies and fixtures complex that looks compelling here is Patrick Industries (PATK), a manufacturer and distributor of building products and materials to the recreational vehicle and manufactured housing industries. This stock is off to a hot start in 2012, with shares up over 110%.
If you take a look at the chart for Patrick Industries, you'll notice that this stock has been uptrending ridiculously strong for the past six months, with shares advancing from a low of $1.54 to a recent high of $13.20 a share. During that uptrend, the stock has consistently made higher lows and higher highs, which is bullish technical price action. Also, the stock has yet to violate its 50-day moving average during that monster move higher. Shares of Patrick Industries just recently pulled back from $13.20 to its 50-day moving average at $8.14 a share. If the 50-day holds again here, then PATK could be setting up to continue its trend higher.
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