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5 Stocks Under $10 Triggering Breakout Trades

Vantage Drilling

Vantage Drilling ( VTG) is an international drilling company engaged in contract drilling units, related equipment and work crews, on a dayrate basis to drill oil and natural gas wells for its customers. This stock closed up 4% to $1.80 in Thursday's trading session.

Thursday's Range: $1.73-$1.81
52-Week Range: $1.53-$2.06
Thursday's Volume: 4.14 million
Three-Month Average Volume: 1.5 million

From a technical perspective, VTG spiked notably higher here back above both its 50-day moving average at $1.76 and its 200-day moving average at $1.78 with monster upside volume. This stock has been trending range bound for the last two months, with shares moving between $1.68 on the downside and $1.84 on the upside. Shares of VTG are now starting to move within range of triggering a breakout trade above the upper-end of it recent sideways trading chart pattern. That breakout will hit if VTG manages to take out some near-term overhead resistance levels at $1.82 to $1.84 with high volume.

Traders should now look for long-biased trades in VTG as long as it's trending above some near-term support levels at $1.72 to $1.68 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.5 million shares. If that breakout triggers soon, then VTG will set up to re-test or possibly take out its 52-week high at $2.06. Any high-volume move above that level will then give VTG a chance to tag $2.30.

Coronado Biosciences

Coronado Biosciences ( CNDO) is a biopharmaceutical company focused on novel immunotherapy biologic agents for autoimmune diseases and cancer. This stock closed up 9.2% to $8.30 in Thursday's trading session.

Thursday's Range: $7.38-$8.37
52-Week Range: $4.00-$12.70
Thursday's Volume: 523,000
Three-Month Average Volume: 514,053

From a technical perspective, CNDO ripped sharply higher here back above its 50-day moving average of $8.15 and right into its 200-day moving average at $8.34 with above-average volume. This move is starting to push shares of CNDO within range of triggering a near-term breakout trade. That trade will hit if CNDO manages to take out some near-term overhead resistance levels at Thursday's high of $8.37 to $8.84 with high volume.
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CNDO $2.92 -8.18%
DXLG $5.32 -0.93%
ICA $0.77 -4.94%
LEE $2.01 -9.90%
VTG $0.03 34.33%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

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