This Day On The Street
Continue to site
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

5 Stocks Under $10 Ready to Soar Higher

GT Advanced Technologies

An under-$10 name in the semiconductor complex that looks ready to trigger a sharp move higher is GT Advanced Technologies (GTAT), a global provider of polysilicon production technology and multicrystalline ingot growth systems and related photovoltaic manufacturing services for the solar industry, and sapphire growth systems and material for the light emitting diode and other specialty markets. This stock has been pressured by the bears so far in 2012, with shares down by 33%.

If you take a look at the chart for GT Advanced Technologies, you'll notice that the sellers hammered this stock from its March high of $8.61 to its 52-week low of $3.92 a share hit in early June. During that nasty slide lower, shares of GT Advanced Technologies were consistently making lower highs and lower lows, which is bearish technical price action. That said, since tagging that low, shares of GTAT have started to reverse its downtrend and trade higher. That move has now pushed the stock within range of triggering a near-term breakout trade.

>>10 Top-Rated Tech Stocks With Big Dividends

Traders should now look for long-biased trades in GTAT if it can manage to trigger a break out above some near-term overhead resistance at $5.21 to $5.57 a share with high volume. Look for volume off a sustained move or close above those levels that hits near or above its three-month average action of 2,633,410 shares. If that breakout hits soon, then look for GTAT to make a monster run towards its 200-day moving average of $7.01 a share.

If you like the setup here for GTAT, then look to buy this stock off weakness and simply use a stop just below some major near-term support at $4.62 to $4.54 a share. Those support levels have held up for the last month and change. One could also buy off strength once GTAT takes out $5.21 to $5.57 a share, and then simply use a stop just below its 50-day moving average of $4.76 a share.

Keep in mind that the short-sellers are very involved in GTAT, since its current short interest as a percentage of the float is 24.8%. If that breakout triggers soon, then we could easily see a massive short-squeeze develop that sends this stock into the stratosphere.
5 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free

Check Out Our Best Services for Investors

Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
BIOF $8.19 2.63%
FTEK $1.67 4.38%
GTAT $0.50 -2.08%
NAK $0.34 16.88%
SOL $1.22 -3.17%


Chart of I:DJI
DOW 15,660.18 -254.56 -1.60%
S&P 500 1,829.08 -22.78 -1.23%
NASDAQ 4,266.8370 -16.7550 -0.39%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs