This Day On The Street
Continue to site
ADVERTISEMENT
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 Set to Soar

DryShips

Another stock that looks ready to trigger a major breakout trade is DryShips (DRYS - Get Report), a holding company engaged in the ocean transportation services of drybulk cargoes and crude oil worldwide through the ownership and operation of drybulk carrier vessels and oil tankers and offshore drilling services through the ownership and operation of ultra-deepwater drilling units. This stock is off to a decent start in 2012, with shares up 18% so far.

If you take a look at the chart for DryShips, you'll notice that this stock was hit hard by the bears back in March, when shares plunged from over $3.75 to its recent low of $1.91 a share. During that sharp move lower, shares of DRYS were consistently making lower highs and lower lows, which is bearish price action.

That said, shares of DRYS have now entered a range bound trend for the past three months, with shares moving between $1.91 and $2.60 a share. A move outside of that range for DRYS will likely setup its next major trend.

Traders should now look for long-biased trades in DRYS if this stock can manage to break out above some near-term overhead resistance levels at $2.38 to $2.46 a share, and then once it takes out its 200-day moving average of $2.62 a share with high volume. Look for a sustained move or close above those levels with volume that registers near or above its three-month average action of 4,352,970 shares. If we get that action soon, then DRYS could easily re-test and possibly take out its next major overhead resistance levels at $3.28 to $3.60 a share.
4 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
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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
JRCC $0.00 0.00%
DRYS $0.63 -11.27%
EXEL $3.54 -6.10%
NG $3.50 -0.57%
ROSG $3.24 -3.86%

Markets

DOW 17,596.35 -350.33 -1.95%
S&P 500 2,057.64 -43.85 -2.09%
NASDAQ 4,958.4680 -122.0370 -2.40%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs