This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

5 Stocks Under $10 Set to Soar

Stocks in this article: LIVE AVL ALSK MGT PLX

Protalix Bio Therapeutics

Another under-$10 name that looks ready to break out here is Protalix Bio Therapeutics (PLX), a biopharmaceutical company focused on the development and commercialization of recombinant therapeutic proteins based on its ProCellEx protein expression system, ProCellEx. This stock is off to a bullish start in 2012, with shares up over 37%.

If you take a look at the chart for Protalix Bio Therapeutics, you'll notice for the last six months, this stock has been uptrending strong, with shares soaring from a low of $4.78 to a recent high of $7.70 a share. During that sharp move higher, shares of Protalix Bio Therapeutics have mostly made higher lows and higher highs, which is bullish technical price action. That move has now pushed PLX within range of triggering a near-term breakout trade.

>>22 Biopharma Stocks With Breakout Potential in 2012

Traders should now look for long-biased trades in PLX if it can manage to trigger a near-term breakout trade above $6.80 to $6.95 a share with high volume. Look for a sustained move or close above those levels on volume that's near or above its three-month average action of 858,880 shares. If we get that action soon, then PLX has a great chance of re-testing and possibly taking out its May high of $7.70 a share.

One could be a buyer of PLX off weakness to anticipate the breakout, and simply use a stop just below its 50-day moving average of $6.54 a share. One could also just buy off strength once PLX clears $6.80 to $6.95 with high-volume, and simply use as stop that's a few percentage points below $6.95 a share.

If that breakout does hit and we see $7.70 get taken out with volume, then I would add to any long positions in PLX. This stock has a massive gap-down above $7.70 that could get filled. That would take PLX back towards $10 a share.

3 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • 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 Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,686.25 +329.38 1.90%
S&P 500 2,050.44 +37.55 1.87%
NASDAQ 4,730.3260 +86.0140 1.85%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs