4 Stocks Under $10 Spiking Higher
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.
Nektar Therapeutics (NKTR) is a clinical-stage biopharmaceutical company developing a pipeline of drug candidates that utilize its PEGylation and polymer conjugate technology platforms, which are designed to improve the benefits of drugs for patients. This stock is trading up 3.4% to $9.34 in recent trading.
Today's Range: $8.90-$9.37
52-Week Range: $5.65-$10.98
Three-Month Average Volume: 944,082
Shares of NKTR are moving higher today ahead of its quarterly earnings report, which is due out on Feb. 28 after the market close.
From a technical perspective, NKTR is spiking higher here right off some near-term support at $8.88 with decent upside volume. This stock has been trading inside of a consolidation pattern for the last month and change, with shares moving between $8.46 on the downside and $9.58 on the upside. Shares of NKTR are now quickly moving within range of triggering a breakout trade above the upper-end of its consolidation chart pattern. That breakout will hit if NKTR manages to take out some near-term overhead resistance levels at $9.41 to $9.58 with high volume.
Traders should now look for long-biased trades in NKTR as long as it's trending above some near-term support levels at $8.88 to $8.69 and then once it sustains a move or close above those breakout levels with volume that hits near or above 944,082 shares. If that breakout triggers soon, then NKTR could easily run higher ahead of its earnings report and possible tag $10.50 to $11.