5 Under-$10 Stocks Set to Trade Higher in November
WINDERMERE, Fla. (Stockpickr) -- There isn't a day that goes by on Wall Street when certain stocks trading for $10 a share or less don't 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 Wednesday, including China Auto Logistics
One low-priced stock that recently exploded higher was Impac Mortgage
Guess what happened? Shares of IMH never looked back once it took out those key overhead resistance levels of $8.03 to $8.63 a share. The stock went on make a monster move higher to $11.94 in just a few weeks. It briefly pulled back to just above its 50-day moving average later that month, but then went on to skyrocket again with shares now trading at $15.75 a share. This stock is a perfect example of how powerful trading breakouts can be for low-priced stocks.
Low-priced stocks are something that I tweet about on a regular basis. I frequently flag high-probability setups, breakout candidates and low-priced stocks that are acting technically bullish. I like to hunt for low-priced stocks that are showing bullish price and volume trends, since that increases the probability of those stocks heading higher. These setups often produce monster moves higher in very short time frames.