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 Ready to Soar Higher

Stocks in this article: OXGNROSGLPHIAEZSDVAXSZYM

AEterna Zentaris

Another under-$10 stock that's trending very close to triggering a major breakout trade is AEterna Zentaris (AEZS), which is focused on endocrine therapy and oncology with expertise in drug discovery, development and commercialization, mainly targeting the North American and European markets. This stock has been on fire so far in 2013, with shares up by 23%.

>>5 Stocks With Big Insider Buying

If you take a look at the chart for AEterna Zentaris, you'll notice that this stock has been uptrending strong for the last two months and change, with shares soaring from its low of $1.75 to its recent high of $3.45 a share. During that uptrend, shares of AEZS have been consistently making higher lows and higher highs, which is bullish technical price action. Shares of AEZS have now started to move back above its 200-day moving average of $2.80 a share and are quickly moving within range of triggering a major breakout trade.

Traders should now look for long-biased trades in AEZS if it manages to break out above some key overhead resistance levels at $3.45 to $3.55 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 volume of 781,921 shares. If that breakout triggers soon, then AEZS will set up to re-test or possibly take out its next major overhead resistance levels at $4.56 to just over $5 a share. Keep in mind that that if AEZS triggers that move it will also have a chance to re-fill some of its previous gap down zone from last October that starts above $3.75 a share.

Traders can look to buy AEZS off any weakness to anticipate that breakout and simply use a stop that sits right below some key near-term support at $2.67 a share or around its 50-day at $2.47 a share. One could also buy AEZS off strength once it clears those breakout levels with volume and then simply use a stop that sits just below $3.20 a share.

4 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 16,399.67 +19.26 0.12%
S&P 500 1,904.01 +17.25 0.91%
NASDAQ 4,316.0740 +57.6360 1.35%

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