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5 Stocks Under $10 Poised for Breakouts


One under-$10 name that's trading within range of triggering a big breakout trade is LiveDeal (LIVE - Get Report), which, together with its subsidiaries, delivers local customer acquisition services for small and medium-sized businesses. It provides online marketing Internet directory services. This stock is off to a solid start in 2012, with shares up over 50%.

If you take a look at the chart for LiveDeal, you'll notice that since April, this stock has been uptrending from a low of $3.87 to a recent high of $6.90 a share. During that uptrend, shares of LIVE have consistently made higher lows and higher highs, which is bullish technical price action. That move has now pushed LIVE within range of triggering a major breakout trade.

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Traders should now look for long-biased trades in LIVE if it can manage to trigger a break out above some near-term overhead resistance at $6.90 to $7.37 a share with high volume. Look for a sustained move or close above those levels with volume that's near or well above its three-month average action of 54,336 shares. If we get that action soon, then this stock has a great chance of tagging $9 to $10 a share rather quickly.

Volume on Wednesday registered 111,900 shares as the stock closed up 4.5% to $6.07 a share. During intraday trading on Wednesday, LIVE hit a high of $6.66 a share. If you buy this stock in anticipation of the breakout above $6.90 to $7.37, then a good place for a stop could be some near-term support areas at $5.50 to $5.33 a share.
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EMMS $0.61 3.40%
ISIS $38.22 -5.40%
IDIX $24.50 0.20%
LIVE $1.63 -1.21%
SNSS $0.50 -0.46%


Chart of I:DJI
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S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

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