2 Solar Stocks Under $10 Soaring 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.
>>4 Hot Stocks to Trade (or Not) LDK Solar
LDK Solar (LDK) , a solar module manufacturer, sells multicrystalline and monocrystalline wafers globally to manufacturers of solar cells and modules. This stock is trading up 7.6% to $1.98 in recent trading.
Today's Range: $1.77-$2.02
52-Week Range: $0.71-$6.80
Volume: 3.13 million
Three-Month Average Volume: 2.54 million
From a technical perspective, LDK is showing a continuation move here with above-average volume after the stock exploded off its 50-day moving average of $1.59 two trading sessions ago. This move is quickly pushing shares of LDK within range of triggering a major breakout trade. That trade will hit if LDK manages to take out some near-term overhead resistance levels at $2.10 to $2.32 and then once it clears some past resistance at $2.36 with high volume.
Traders should now look for long-biased trades in LDK as long as it's trending above its 50-day at $1.59 and then once it sustains a move or close above those breakout levels with volume that hits near or above 2.54 million shares. If that breakout hits soon, then LDK will set up to re-test or possibly take out its next major overhead resistance levels at $3 to $3.34. Suntech Power
Suntech Power (STP) , a solar energy company, designs, develops, manufactures and markets a number of PV cells and modules, including a range of value-added building-integrated photovoltaics products. This stock is trading up 6.6% to $1.60 in recent trading.