This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

5 Stocks Under $10 Set to Soar

Stocks in this article: PSTINSPHNCQMWWATECZGNX

Monster Worldwide

Another under-$10 name that's trading very close to triggering a near-term breakout trade is Monster Worldwide (MWW), which provides global online employment solutions, with a presence in approximately 55 countries around the world. This stock has literally done nothing so far in 2012, with shares virtually flat.

If you take a look at the chart for Monster Worldwide, you'll see that this stock has been uptrending very strong for the last two months, with shares spiking higher from a low of $5.71 to $9.05 a share. During that uptrend, shares of MWW have been mostly making higher lows and higher highs, which is bullish technical price action. Shares of MWW have now pulled back off its recent highs, and it's started to bounce off its 50-day at $7.32 a share. That move is now pushing MWW within range of triggering a near-term breakout trade.

Market players should now look for long-biased trades in MWW if it can manage to trigger a break out above some near-term overhead resistance levels at $7.89 to $8.03 a share with high volume. Look for a sustained move or close above those levels with volume that hits close to or above its three-month average action of 3.45 million shares. If that breakout triggers soon, then MWW will setup to re-test or possibly take out its next major overhead resistance levels at $9.04 to $9.14 a share, or possibly even $9.63 to $10.40 a share.

Traders can look to get long MWW off weakness, and simply use a stop that sits right below its 50-day at $7.32, or even near some previous support at $7.05 a share. One could also buy MWW off strength once it clears $7.89 to $8.03 a share with volume, and then simply use a stop right below its 50-day.

5 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,390.52 +195.10 1.13%
S&P 500 2,018.05 -2.75 -0.14%
NASDAQ 4,630.7410 +64.6030 1.41%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs