Daqo New Energy
One more under-$10 name that looks ready to trigger a near-term breakout trade is Daqo New Energy (DQ), which is polysilicon manufacturer based in China. This stock is off to a decent start in 2013, with shares up by 18%.
If you take a look at the chart for Daqo New Energy, you'll notice that this stock has been uptrending strong for the last month, with shares moving higher from its low of $6.37 to its recent high of $10.24 a share. During that uptrend, shares of DQ have been mostly making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of DQ within range of triggering a near-term breakout trade.
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