4 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.
Yongye International (YONG) is engaged in the research, development and sales of fulvic acid based liquid and powder nutrient compounds for plant and animal feed used in the agriculture industry. This stock closed up 5.8% to $5.74 on Wednesday.
Wednesday's Range: $1.40-$1.50
52-Week Range: $1.33-$2.55
Three-Month Average Volume: 381,161
From a technical perspective, YONG spiked sharply higher right off its 50-day moving average of $5.45 with above-average volume. This move came after shares of YONG were trading in a tight consolidation pattern for the last few weeks, with shares moving between $5.60 on the upside and $5.36 on the downside. Shares of YONG are now quickly moving within range of triggering a major breakout trade. That trade will hit if YONG manages to take out its 52-week high of $5.98 and some past overhead resistance at $6.32 with high volume.
Traders should now look for long-biased trades in YONG as long as it's trending above 50-day at $5.45 and then once it sustains a move or close above those breakout levels with volume that hits near or above 381,161 shares. If that breakout triggers soon, then YONG will set up to re-test or possibly take out its next major overhead resistance levels at $7 to $7.50. Any high-volume move above those levels will then put $8 to $8.65 into range for shares of YONG.
JA Solar (JASO) designs, manufactures and markets high-performance solar cells, which are made from specially processed silicon wafers. This stock closed up 0.5% to $5.67 on Wednesday.