8 Stocks Under $10 Skyrocketing Higher
Stillwater Mining (SWC) is engaged in the development, extraction, processing, smelting, refining and marketing of palladium, platinum and associated metals from a geological formation in south-central Montana, the J-M Reef, and from the recycling of spent catalytic converters. This stock is trading up 6.1% at $8.47 in recent trading.
Today's Range: $8.02-$8.5652-Week Range: $7.31-$17.10 Volume: 1 million Three-Month Average Volume: 1.9 million From a technical perspective, SWC is moving sharply to the upside here on light volume. From the looks of the chart, SWC is starting to form a major bottoming pattern at around $7.77 to $7.96. Traders should now look for long-biased trades once SWC manages to clear its 50-day moving average of $8.68 with high volume. Look for a sustained move or close above $8.68 with volume that's near or above 1.9 million shares. If we get that action and you go long, then I would add to any positions once SWC takes out some near-term overheard resistance at $9.71 with heavy volume. Target a possible spike back toward its 200-day moving average of $10.93, or even possibly $12. Keep in mind that those targets will only have a chance of being hit if SWC can maintain a strong volume trend above its 50-day.
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