5 Stocks Under $5 Making Big Moves
Stocks that are making large moves like these are favorites among short-term traders because they can jump into these names and try to capture some of that massive volatility. Stocks that are making big moves either up or down are usually in play because their sector is becoming attractive or they have a major fundamental catalyst like a recent earnings release . Sometimes stocks making big moves have been hit with an analyst upgrade or an analyst upgrade .
Regardless of the reason behind it, when a stock makes a large-percentage move, it is often just the start of a new major trend -- a trend that can lead to huge profits. If you time your trade correctly, combining technical indicators with fundamental trends, discipline and sound money management, you will be well on your way to investment success.
With that in mind, let's take a closer look at several stocks under $5 that are making large-percentage moves to the upside today .
Sunesis Pharmaceuticals (SNSS) is a biopharmaceutical company focused on the development and commercialization of new oncology therapeutics for the treatment of hematologic and solid tumor cancers. This stock is trading up 4% at $2.77 in recent trading.
Today's Range: $2.64-$2.88
52-Week Range: $1.01-$3.17
Three-Month Average Volume: 388,394
From a technical perspective, SNSS is bouncing modestly today right off a previous support zone at $2.63 with below average volume. This bounce today is forming a continuation pattern of higher lows for SNSS that has been in place for the last month and change.
Traders should now look for long-biased trades in anticipation of a possible breakout above some near-term overhead resistance. That breakout will trigger once SNSS takes out $3.15 to $3.17 with high-volume. Look for volume on that move that's near or above 388,394 shares. If we get that action soon, look for SNSS to make a run at its next significant overhead resistance level at $3.69.
I would avoid any long trades in SNSS if it breaks back below $2.63 with volume.
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Openwave Systems (OPWV) is a software provider delivering mediation and messaging solutions that enable communication service providers, including mobile and broadband operators, to create and deliver services. This stock is trading up 7.9% at $2.45 in recent trading.
Today's Range: $2.30-$2.48
52-Week Range: $1.17-$2.72