YRCW QTWW CNTF APPY GTXI ARIA DELAFIELD, Wis. (Stockpickr) -- There isnt a day that goes by on Wall Street when certain stocks trading for $10 a share or less dont experience massive spikes higher. Traders savvy enough to follow the low-priced names and trade them with discipline and sound risk management are banking ridiculous coin on a regular basis.
Just take a look at some of the hot movers in the under-$10 complex from Thursday, including Alimera Sciences (ALIM), which is skyrocketing higher by over 60%; pSivida (PSDV), which is soaring higher by over 40%; Oxygen Biotherapeutics (OXBT), which is ripping higher by over 30%; and Astrotech (ASTC), which is spiking higher by over 20%. You dont even have to catch the entire move in lower-priced stocks such as these to make outsized returns when trading.
One low-priced stock that recently exploded higher was trucking player YRC Worldwide (YRCW), which I highlighted in Dec. 12's 5 Stocks Under $10 Set to Soar at $9.70 per share. I mentioned in that piece that shares of YRC Worldwide had been downtrending badly for the last five months, with shares plunging lower from $33.89 to $7.06 a share. Shares of YRCW had recently formed a triple bottom chart pattern over the last month, at $7.06, $7.20 and $7.44 a share. The stock had started to reverse its downtrend and enter a new uptrend since forming that triple bottom, with shares moving higher from $7.06 to $10.50 a share. That move was starting to push shares of YRCW within range of triggering a big breakout trade above some near-term overhead resistance levels at $10.63 to its 50-day moving average of $10.87 a share.