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 amade large moves to the upside on Tuesday.
AirMedia Group (AMCN) operates a digital media network in China dedicated to air travel advertising. This stock closed up 8.1% to $2.38 on Tuesday.
Tuesday's Range: $2.17-$2.47
52-Week Range: $1.33-$3.70
Three-Month Average Volume: 42,465
From a technical perspective, AMCN ripped higher here right off its 200-day moving average of $2.16 with above-average volume. This move is quickly pushing shares of AMCN within range of triggering a major breakout trade. That trade will hit if AMCN manages to clear some key overhead resistance levels at $2.47 to $2.59 with high volume.
Traders should now look for long-biased trades in AMCN as long as it's trending above some key near-term support at $2.05, and then once it sustains a move or close above those breakout levels with volume that hits near or above 42,465 shares. If that breakout triggers soon, then AMCN will set up to re-test or possibly take out its next major overhead resistance levels at $2.90 to $3.20. Any high-volume move above $3.20 will then put $3.55 to $4.01 into focus for shares of AMCN.
Aurizon Mines (AZK) is a gold-producer engaged in the acquisition, exploration, development and operation of gold projects. This stock closed up 5.3% to $4.70 on Tuesday.
Tuesday's Range: $4.45-$4.76
52-Week Range: $3.19-$5.77
Volume: 1.32 million
Three-Month Average Volume: 764,977
From a technical perspective, AZK ripped higher here right off its 200-day moving average of $4.44 with heavy upside volume. This stock recently gapped up big from around $3.40 to $4.60 with strong upside volume. Shares of AZK are now quickly moving within range of triggering a near-term breakout trade. That trade will hit if AZK manages to clear some near-term overhead resistance at $4.79 to $4.81 with high volume.