Quest Rare Minerals
An under-$10 stock in the rare earth metals complex that looks poised for higher prices is Quest Rare Minerals (QRM), an exploration stage company that engages in the identification and discovery of rare earth deposits in Canada. This stock has been hammered by the sellers during the last six months, with shares down by over 50%.
If you take a look at the chart for Quest Rare Minerals, you'll see that this stock has been downtrending badly for the past six months, with shares plunging from over $3 a share to its recent low of $1.14 a share. During that downtrend, shares of QRM have consistently made lower highs and lower lows, which is bearish technical price action. That said, shares of QRM have recently formed a double bottom chart pattern after the stock found buying interest at around $1.14 to $1.15 a share. If that bottom holds, then QRM could now be setting up to trigger a major breakout trade.
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