An under-$10 stock in the broadcasting and cable TV complex that looks poised for significant upside is Emmis Communications (EMMS - Get Report), a diversified media company principally focused on radio broadcasting. This stock is off to a monster start in 2012, with shares up over 110%.
If you take a look at the chart for Emmis Communications, you'll notice that this stock triggered a major breakout recently once it moved above some past overhead resistance at 90 cents to $1 a share with massive volume. That breakout sparked a huge spike higher in EMMS to its recent high of $1.72 a share. Since hitting that high, EMMS has pulled back to $1.16 a share and subsequently started to spike higher again towards its current price of around $1.40 a share. That move is pushing EMMS within range of triggering another big breakout trade.
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