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 Set to Soar

Stock quotes in this article: SCMP, ATRS, SNFCA, ENPH, RBCN, MELA

Antares Pharma

One under-$10 stock that's trending very close to trigger a near-term breakout trade is Antares Pharma ( ATRS), which is a specialty pharmaceutical company developing and commercializing self-administered parenteral pharmaceutical products and technologies and topical gel-based products. This stock has been moving higher in 2013, with shares up by 12.4%.

If you take a look at the chart for Antares Pharma, you'll notice that this stock is bouncing sharply to the upside today right off its 50-day moving average of $3.53 a share. This move has started to push shares of ATRS above a key downtrend line that has been acting as resistance for the stock since February. Shares of ATRS are also starting to break out above some near-term overhead resistance at $3.63 to $3.71 a share. That move is quickly pushing the stock within range of triggering another major breakout trade.

>>4 Stocks Spiking on Big Volume

Traders should now look for long-biased trades in ATRS if it manages to break out above some near-term overhead resistance levels at $3.71 to $3.80 a share and then once it clears more resistance at its 200-day at $3.94 and at $4 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 action of 885,916 shares. If that breakout triggers soon, then ATRS will set up to re-test or possibly take out its next major overhead resistance levels at $4.38 to $4.73 a share. Any high-volume move above $4.73 will then put $5.25 to $5.50 into range for shares of ATRS.

Traders can look to buy ATRS off weakness to anticipate that breakout and simply use a stop that sits just below its 50-day at $3.53 a share. One can also buy off strength once ATRS off strength once it takes out those breakout levels with volume and then simply use a stop just below $3.63 a share.

This stock has a decent amount of bears involved in the name, since the current short interest as a percentage of the float for ATRS is pretty high at 9.8%. We could easily see this stock short-squeeze rapidly higher from current levels if the price action remains bullish.

2 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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 16,873.26 -169.64 -1.00%
S&P 500 1,959.37 -12.92 -0.66%
NASDAQ 4,452.5950 -40.7950 -0.91%

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