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.
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