3 Stocks Under $10 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-percentage moves either up or down are usually in play because their sector is becoming attractive or they have a major fundamental catalyst such as a recent earnings release. Sometimes stocks making big moves have been hit with an analyst upgrade or an analyst downgrade.
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 a several stocks under $10 that are making large moves to the upside today.
Neonode (NEON) develops and licenses the next generation of MultiSensing user interfaces and optical multi-touch solutions for consumer brands. This stock is trading up 5.2% to $4.81 in recent trading.
Today's Range: $4.61-$4.95
52-Week Range: $2.85-$7.40
Three-Month Average Volume: 210,526
From a technical perspective, NEON is spiking higher here right off its 50-day moving average of $4.30 with lighter volume. This move is quickly pushing shares of NEON within range of triggering a major breakout trade. That trade will hit if NEON manages to clear some key overhead resistance levels at $5.24 to $5.30 and then once it takes out more resistance at $5.59 with high volume.
Traders should now look for long-biased trades in NEON as long as it's trending above its 50-day at $4.30, and then once it sustains a move or close above those breakout levels with volume that hits near or above 210,526 shares. If that breakout hits soon, then NEON will set up to re-test or possibly take out its next major overhead resistance levels $6.50 to $7. Emcore
Emcore (EMKR) is a provider of compound semiconductor-based components and subsystems for the broadband, fiber optic, satellite and terrestrial solar power markets. This stock is trading up 8.1% to $5.05 in recent trading.
Today's Range: $4.59-$5.08
52-Week Range: $3.45-$5.99
Three-Month Average Volume: 100,249
From a technical perspective, EMKR is ripping higher here right off its 200-day moving average of $4.62 with above-average volume. This stock has been uptrending strongly for the last two months, with shares soaring from its low of $3.91 to its intraday high of $5.06. During that move, shares of EMKR have been consistently making higher lows and higher highs, which is bullish technical price action. This move today has now pushed EMKR into breakout territory, since the stock has taken out some near-term overhead resistance levels at $4.85 to $4.96.