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 Set to Soar

MiMedx Group

Another under-$10 stock that's quickly moving within range of triggering a major breakout trade is MiMedx Group ( MDXG), an integrated developer, manufacturer and marketer of patent protected regenerative biomaterial products and allografts processed from human amniotic membrane. This stock has been on fire so far in 2013, with shares up a whopping 88%.

>>5 Stocks Rising on Unusual Volume

If you take a look at the chart for MiMedx Group, you'll notice that this stock has been trending sideways for the last month, with shares moving between $6 on the downside and $7.50 on the upside. Shares of MDXG are now starting to spike higher today with heavy upside volume as it challenges some near-term overhead resistance levels. If those levels get taken out soon, then this stock could trigger a major breakout trade.

Traders should now look for long-biased trades in MDXG if it manages to break out above some near-term overhead resistance levels at $7.27 to $7.35 a share and then once it clears its 52-week high at $7.50 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 651,805 shares. If that breakout triggers soon, then MDXG will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $9 to $10 a share.

Traders can look to buy MDXG off weakness to anticipate that breakout and simply use a stop that sits right below some key near-term support at $6.81 a share, or below its 50-day at $6.17 a share. One can also buy MDXG off strength once it clears those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.
4 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
CSE $15.50 -0.51%
ATOS $0.39 0.00%
MDXG $7.80 0.00%
OSUR $7.37 0.00%
ROSG $1.33 0.00%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs