Guanwei Recycling Corporation (GPRC)

[thunderjh]

4 Stocks Under $10 Triggering Breakouts

Guanwei Recycling (GPRC_) engages in the manufacture and distribution of low-density polyethylene and other recycled plastics products primarily in the People's Republic of China and internationally. This stock closed up 6.7% to $3.02 in Thursday's trading session.

Thursday's Range: $2.85-$3.19

52-Week Range: $1.14-$3.60

Thursday's Volume: 346,000

Three-Month Average Volume: 58,952

From a technical perspective, GPRC spiked sharply higher here right above its 50-day moving average of $2.76 with strong upside volume. This move pushed shares of GPRC into breakout territory, since the stock took out some near-term overhead resistance at $2.86. Shares of GPRC are now quickly moving within range of triggering an even bigger breakout trade. That trade will hit if GPRC manages to take out Thursday's high of $3.19 to more resistance at $3.37 and then once it clears its 52-week high at $3.60 with strong volume.

Traders should now look for long-biased trades in GPRC as long as its trending above Thursday's low of $2.85 or above its 50-day at $2.76 and then once it sustains a move or close above those breakout levels with volume that hits near or above 58,952 shares. If that breakout gets underway soon, then GPRC will set up to re-test or possibly take out its next major overhead resistance levels at $3.90 to $4.20, or even $4.50.


http://www.thestreet.com/story/12521072/2/4-stocks-under-10-triggering-breakouts.html