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4 Stocks Under $10 Soaring in a Weak Tape

Stocks in this article: MELA AUMN SNTA RIC

Golden Minerals

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Golden Minerals (AUMN) is a mineral exploration company with a diversified portfolio of precious metals and other mineral exploration properties located in or near the traditional precious metals producing regions of Mexico and South America. This stock is trading up 10.3% at $3.84 in recent trading.

Today's Range: $3.41-$3.89

52-Week Range: $3.24-$20.99

Volume: 252,000

Three-Month Average Volume: 266,002

>>6 Stocks to Play for Lower Gold Prices

From a technical perspective, AUMN is bouncing hard here off of some previous support levels near $3.24, and off of extremely oversold conditions. The current RSI reading for AUMN is 35.08, which indicates an oversold stock. Nothing says oversold more than the chart for AUMN, can shares have dropped from its February high of $10.60 to its recent low of $3.24.

Traders should now look for long-biased traders if AUMN can manage to trigger a near-term breakout trade. That trade will hit once AUMN takes out some near-term overhead resistance at $3.98 with high volume. Look for a sustained move or close above $3.98 with volume that's near or above 266,002 shares. If we get that action soon, look for AUMN to spike big, possibly back toward some resistance at $5 or even its 50-day moving average of $6.08.

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