Another under-$10 stock that's trending within range of triggering a near-term breakout trade is Trina Solar (TSL), which is mainly engaged in the manufacturing and selling of solar modules in the People's Republic of China and overseas. This stock is off to a hot start in 2013, with shares up sharply by 36%.
If you take a look at the chart for Trina Solar, you'll notice that this stock has pulled back in the last month, with the stock dropping from its high of $8.47 a share to its recent low of $5 a share. During that move, shares of TSL have been most making lower highs and lower lows, which is bearish technical price action. That said, this stock has now started to bounce off that $5 low and has recaptured its 50-day moving average at $5.50 a share. That bounce is quickly pushing shares of TSL within range of triggering a near-term breakout trade.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV