8 Stocks Under $10 Skyrocketing Higher
Feihe International (ADY) is a producer and distributor of milk powder, soybean milk powder, and related dairy products in the People's Republic of China. This stock is trading up 9.4% at $6.81 in recent trading.
Today's Range: $6.25-$6.9352-Week Range: $2.22-$9.32 Volume: 239,000 Three-Month Average Volume: 358,803 From a technical perspective, ADY is bouncing hard here right off some near-term support at $5.95 with decent volume. This bounce has already pushed ADY into breakout territory, since the stock has pushed above some near-term overhead resistance at $6.43. Another even bigger breakout trade is now setting up for ADY. That trade will trigger once ADY takes out some near-term overhead resistance at $7.09 with high volume. Traders should now look for long-biased trades once ADY sustains a move or close over $6.43 to $7.09 with volume that's near or above 358,803 shares. At last check, ADY has hit an intraday high of $6.93 and volume is about 100,000 shares below its three-month average volume. If ADY triggers that breakout soon, then this stock could see a huge move back towards its May high of $9.30, or possibly even its 2011 high of $12.50. Keep in mind that ADY will only have a chance to challenge those targets if it maintains a high-volume trend above $7.09.
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