Spanish Broadcasting System
One under-$10 name that looks poised for higher prices is broadcasting player Spanish Broadcasting System (SBSA - Get Report), a Hispanic-controlled media and entertainment company in the U.S. The company operates in two segments: radio and television. This stock is off to a very hot start in 2012, with shares up over 45%.
If you take a look at the chart for Spanish Broadcasting System, you'll notice that this stock was smashed by the bears in mid-May, with shares falling from a high of $7.50 to a recent low of $2.78 a share. It only took about two weeks for this stock to drop that significantly. Following that plunge, shares of SBSA have started to uptrend off that $2.78 low, with shares now making higher lows and higher highs, which is bullish technical price action. That move has now pushed SBSA back above its 50-day moving average of $4.40 a share.