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
TheStreet Open House

5 Stocks Under $10 Set to Soar

Spanish Broadcasting System

One under-$10 name that looks poised for higher prices is broadcasting player Spanish Broadcasting System (SBSA), 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.

>>5 Stocks Poised for Breakouts

Market players should now look for long-biased trades in SBSA as long as this stock is trending above its 50-day moving average of $4.40 a share with strong upside volume flows. I would consider any upside volume days that register near or above its three-month average action of 112,519 shares as bullish. If we continue to see that action, then SBSA could easily hit $6 to $7.50 in the near future.

If you like the look of SBSA here, then one could buy this stock into strength as long as it's maintaining a trend above its 50-day with strong volume. You can use a stop a few percentage points below the 50-day in case SBSA isn't ready to hold that trend. You could also buy off weakness below the 50-day with a stop near today's low of $3.89 a share, but that would be much more risky.

2 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!
DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7890 -13.6380 -0.30%

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