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Stocks Under $10 with 50-100% upside potential - 14 days FREE!

5 Stocks Under $10 Set to Soar

Stocks in this article: SBSA DATE SKYW MCHX ASTX

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.

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