China Auto Logistics
One under-$10 stock that's trending very close to trigger a major breakout trade is China Auto Logistics ( CALI), which trades and sells imported automobiles in the People's Republic of China and also offers financing services. This stock has been on a tear during the last six months, with shares up sharply by 65%.
If you take a look at the chart for China Auto Logistics, you'll notice that this stock recently formed a double bottom chart pattern at $2.77 to $2.80 a share. That bottom formed right above its 200-day moving average of $2.69 a share. Shares of CALI are now starting to bounce off those near-term support levels and the stock is quickly moving within range of triggering a major breakout trade.
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