5 Stocks Under $10 Ready to Soar Higher
Just take a look at some of the hot movers in the under-$10 complex from Wednesday, including Cadiz (CDZI) , which soared by 40%; Silicon Image (SIMG) , which skyrocketed by 22.4%; MeetMe (MEET) , which surged by 16.9%; and Merge Healthcare (MRGE) , which finished up 11.1%. You don't even have to catch the entire move in lower-priced stocks such as these to make outsized returns when trading.
I'm not as eager to recommend investing long term in stocks that trade less than $10 a share because these names can be very speculative, and the odds for picking the long-term winners aren't great. But I definitely love to trade stocks that are priced below $10. I like to view them as a trading vehicle with lots of volatility and lots of upside when the trade is timed right.
When I trade under-$10 names, I do it almost entirely based off of the charts and technical analysis. I also like to find under-$10 names with a catalyst, but that's secondary to the chart and volume patterns.
With that in mind, here's a look at several under-$10 stocks that look poised to potentially trade higher from current levels.