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5 Stocks Under $10 Set to Soar

National Bank of Greece

Another under-$10 stock that's trending within range of triggering a major breakout trade is National Bank of Greece (NBG), which is engaged in providing financial services that include retail and commercial banking, global investment management, investment banking, insurance, investment activities and securities trading. This stock has been hammered by the sellers so far in 2013, with shares off big by 68%.

If you take a look at the chart for National Bank of Greece, you'll see that this stock has just started to rebound off its 52-week low at $5.03 a share with strong upside volume flows. This rebound is also coming off oversold territory, since its current relative strength index reading is 36. Oversold can always get more oversold, but it can also be an area where a stock experiences a powerful bounce higher from. As shares of NBG begin to bounce off that $5.03 low the stock is also quickly moving within range of triggering a major breakout trade.

>>4 Stocks Spiking on Big Volume

Market players should now look for long-biased trades in NBG if it manages to break out above some near-term overhead resistance at $6.21 a share with high volume. Look for a sustained move or close above that level with volume that registers near or above its three-month average action of 1.64 million shares. If that breakout triggers soon, then NBG will set up to re-test or possibly take out its next major overhead resistance levels at $9.20 to its 50-day moving average at $9.69 a share.

Traders can look to buy NBG off any weakness to anticipate that breakout and simply use a stop that sits right below its 52-week low of $5.03 a share. One can also buy NBG off strength once it clears $6.21 a share with volume and then simply use a stop that sits a comfortable percentage from your entry point.

Stock quotes in this article: SUPN, LEAP, NBG, MEG, MTOR, DCTH 

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