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 Stocks Under $10 Triggering Breakouts

Biostar Pharmaceuticals

Another under-$10 name that's starting to move within range of triggering a near-term breakout trade is Biostar Pharmaceuticals (BSPM - Get Report), which develops, manufactures and markets pharmaceutical products for a variety of diseases and conditions in the People's Republic of China. This stock is off to a decent start in 2013, with shares up 12.9% so far.

If you take a look at the chart for Biostar Pharmaceuticals, you'll notice that this stock is just starting to spike higher off its 50-day moving average of $1.06 a share with above-average volume. This move is quickly pushing shares of BSPM within range of triggering a near-term breakout trade.

>>4 Biotech Stocks Under $10 Moving Higher

Market players should now look for long-biased trades in BSPM if it manages to break out above some near-term overhead resistance levels at $1.18 a share to its 200-day moving average at $1.21 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 of 37,579 shares. If that breakout triggers soon, then BSPM will set up to re-test or possibly take out its next major overhead resistance levels at $1.36 to $1.39 a share. Any high-volume move above $1.39 will then put $1.55 to $2 into range for shares of BSPM.

Traders can look to buy BSPM off any weakness to anticipate that breakout and simply use a stop that sits right below its 50-day moving average of $1.06 a share. One could also buy BSPM off strength once it takes out those breakout levels with volume and then simply use a stop that sits just below $1.10 a share.
5 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
ARC $6.08 -2.60%
BSPM $0.72 0.00%
DEPO $18.79 -0.42%
MDGN $7.10 -3.70%
MITK $3.29 0.30%


Chart of I:DJI
DOW 17,081.89 -49.97 -0.29%
S&P 500 2,014.89 +15.91 0.80%
NASDAQ 4,796.6090 -42.0340 -0.87%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs