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


Another under-$10 stock that looks ready to trigger a major breakout trade is Frontline (FRO), which is engaged mainly in the ownership and operation of oil tankers and oil/bulk/ore carriers, which are currently configured to carry dry cargo. This stock has been hammered by the bears in 2013, with shares off by 31%.

If you take a look at the chart for Frontline, you'll notice that this stock recently plunged badly from its high of $3.68 to its low of $1.81 a share with heavy downside volume. During that move, shares of FRO were consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of FRO have started to rebound off that $1.81 low to its recent high of $2.37 a share. This stock has been making higher lows during that rebound and it's quickly moving within range of triggering a major breakout trade.

Market players should now look for long-biased trades in FRO if it manages to break out above some near-term overhead resistance levels at $2.30 to $2.37 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 861,670 shares. If that breakout hits soon, then FRO could experience a powerful bounce higher that takes it back toward its 50-day moving average of $2.86 a share or back to its 200-day moving average at $3.49 a share.

Traders can look to buy FRO off any weakness to anticipate that breakout and simply use a stop that sits right around some key near-term support levels at $2.06 to $1.92 a share. One could also buy FRO off strength once it clears those breakout levels with volume and then simply use a stop right below $2.06 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
CADX $0.00 0.00%
TKMR $4.02 -1.95%
FRO $8.24 0.00%
CBLI $2.29 0.00%
TNK $3.94 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs