This Day On The Street
Continue to site
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 Under-$10 Stocks Primed to Rise in January

Novatel Wireless Another under-$10 stock that's moving within range of triggering a major breakout trade is Novatel Wireless (NVTL), which is a provider of wireless broadband access solutions for the worldwide mobile communications market. This stock has been hammered by the bears during the last six months, with shares down by 43%.

If you take a look at the chart for Novatel Wireless, you'll notice that this stock has been uptrending for the last month and change, with shares moving higher from its low of $1.17 to its recent high of $1.50 a share. During that uptrend, shares of NVTL have been mostly making higher lows and higher highs, which is bullish technical price action. Shares of NVTL have now started to trend back above its 50-day moving average of $1.39 with decent upside volume. That move is quickly pushing NVTL within range of triggering a major breakout trade.

Market players should now look for long-biased trades in NVTL if it manages to break out above some near-term overhead resistance levels at $1.45 to $1.50 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action 356,243 shares. If that breakout hits soon, then NVTL will set up to re-test or possibly take out its next major overhead resistance levels at $1.80 to $1.86 a share. Any high-volume move above those levels will then put $2 to $2.09 into range for shares of NVTL.

Traders can look to buy NVTL off any weakness to anticipate that breakout and then simply use a stop that sits right around some key near-term support levels at $1.29 to $1.24 a share. One can also buy off strength once NVTL clears those breakout levels with volume and then simply use a stop that sits just below its 50-day moving average of $1.39 a share.
3 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

Check Out Our Best Services for Investors

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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
LEAP $0.00 0.00%
NVTL $4.58 1.55%
AFFX $14.09 0.00%
BVSN $5.99 0.00%
PTIE $1.80 0.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs