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Stocks Under $10 with 50-100% upside potential - 14 days FREE!

5 Under-$10 Stocks Primed to Trade Higher

Stocks in this article: ACAD MITL PATH ZGNX CERE

Traders can look to buy ACAD off weakness as long as it's trending above some near-term support levels at $4.62 a share or even $4.17 a share. I would use a stop that sits just below those levels. You can also buy off strength once ACAD takes out those breakout levels with volume and then simply use a stop that sits near $4.62 a share.

Mitel Networks

Another under-$10 stock that's quickly moving within range of triggering a near-term breakout trade is Mitel Networks (MITL), which is a provider of integrated communications solutions focused on the small-to-medium sized enterprise market. This stock has been trending higher during the last three months, with shares up just over 20%.

If you take a look at the chart for Mitel Networks, you'll notice that this stock recently bounced strongly right off its 50-day moving average of $2.81 a share. That bounce is quickly pushing shares of MITL within range of triggering a near-term breakout trade and within range of taking out its 200-day moving average of $3.55 a share.

Market players should now look for long-biased trades in MITL once it breaks out above some near-term overhead resistance at its 200-day of $3.55 and then above some more overhead resistance at $3.61 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 38,423 shares.

Traders can look to buy MITL off any weakness as long as it's trending above some near-term support levels at $3 to $2.81 a share. I would simply use a stop that sits right below $3 or $2.81 if you buy off weakness. One can also buy off strength if MITL clears those breakout levels with volume and then simply use a stop that sits right around $3.20 a share.

NuPathe

One under-$10 name that's trending very close to triggering a major breakout trade is NuPathe (PATH), which is a biopharmaceutical company focused on the development and commercialization of branded therapeutics for diseases of the central nervous system, including neurological and psychiatric disorders. This stock has been blazing a trail to the upside so far in 2012, with shares up 89%.

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