3 Stocks Under $5 Making Big Moves
Asia Entertainment & Resources
Asia Entertainment & Resources (AERL), through its subsidiaries, engages in the promotion of VIP gaming rooms in Macau, the People's Republic of China. This stock is trading up 5.5% at $3.45 in recent trading.
Today's Range: $3.31-$3.6052-Week Range: $2.40-$8.46 Volume: 169,000 Three-Month Average Volume: 105,148 >>5 Rocket Stocks to Buy This Week From a technical perspective, AERL is moving sharply higher here with above average volume. This stock had been stuck in nasty downtrend for the last six months, with shares plunging from $6.95 to its recent low of $2.40. During that downtrend, shares of AERL had been consistently making lower highs and lower lows, which is bearish technical price action. That said, this stock has started to bounce off $2.40 and it's now trading very close to its 50-day moving average of $3.65. Traders should now look for long-biased trades in AERL if it can manage to sustain a move or close back above its 50-day of $3.65 with high volume. Look for volume off that move that hits near or above 105,148 shares. If we get that action soon, then AERL will setup to re-test or possibly take out its next major overhead resistance levels at $4.18 to $4.50. It's possible that AERL could even re-test its 200-day moving average of $5.50 if we blast above its 50-day with volume soon.
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