4 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-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 that are making large moves to the upside today.
Platinum Group Metals
Platinum Group Metals (PLG) is exploration and development stage company conducting work on mineral properties it has staked or acquired by way of option agreements in Ontario, Canada and the Republic of South Africa. This stock is trading up 7.5% to $1.42 in recent trading.
Today's Range: $1.33-$1.42
52-Week Range: $0.75-$1.72
Three-Month Average Volume: 443,494
From a technical perspective, PLG is ripping higher here right off some near-term support at $1.30 to $1.28 with above-average volume. This stock has been uptrending strong for the last two months, with shares soaring higher from its low of 80 cents to its recent high of $1.52. During that move, shares of PLG have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of PLG within range of triggering a major breakout trade. That trade will hit if PLG manages to take out some near-term overhead resistance levels at $1.41 to $1.52 with high volume.
Traders should now look for long-biased trades in PLG as long as it's trending above $1.30 to $1.28, and then once it sustains a move or close above those breakout levels with volume that hits near or above 443,494 shares. If that breakout hits soon, then PLG will set up to re-test or possibly take out its next major overhead resistance level and its 52-week high at $1.72. Any high-volume move above $1.72 should be considered bullish price action, since it would push PLG into new 52-week-high territory. Some possible targets off any move above $1.72 are $1.85 to $2.20.