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.
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