4 Under-$10 Stocks Moving Higher
>>Trade 5 Hated Names to Beat the Market 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.
This company (LEE) is a provider of local news and information and a major platform for advertising, in primarily midsize markets. This stock is trading up 7% to $1.60 in recent trading.
Today's Range: $1.49-$1.62
52-Week Range: $0.49-$1.81
Three-Month Average Volume: 177,008
From a technical perspective, LEE is spiking significantly higher here right off its 50-day moving average of $1.49 with above-average volume. This move has pushed LEE above some near-term overhead resistance at $1.55 and its moving the stock within range of triggering a major breakout trade. That trade will hit once LEE manages to take out some near-term overhead resistance at $1.67 to $1.81 with high volume.
Traders should now look for long-biased trades in LEE as long as it's trending above its 50-day at $1.49, and then once it sustains a move or close above those breakout levels with volume that hits near or above 177,008 shares. If that breakout triggers soon, then LEE will set up to re-test or possibly take out its next major overhead resistance levels at $2 to $2.50.
Cal Dive International
This company (DVR) is a marine contractor which provides manned diving, pipelay and pipe burial, platform installation and platform salvage services to a diverse customer base in the offshore oil and natural gas industry. This stock is trading up 9% to $1.32 in recent trading.
Today's Range: $1.00-$1.36
52-Week Range: $1.14-$4.00
Volume: 2.41 million
Three-Month Average Volume: 1.44 million
From a technical perspective, DVR is bouncing sharply higher here with above-average volume. This move is coming after the stock downtrended badly for the last four months from $3 to $1. The action today has now started to move DVR within range of triggering a near-term breakout trade. That trade will hit once DVR manages to take out some near-term overhead resistance levels at $1.51 to $1.57 with high volume.