3 Stocks Under $2 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.
>>5 Trades to Profit From a January Rally Corcept Therapeutics
Corcept Therapeutics (CORT) is a pharmaceutical company, engaged in the discovery and development of drugs for the treatment of severe metabolic and psychiatric disorders. This stock is trading up 81% to $1.60 in recent trading.
Today's Range: $1.50-$1.66
52-Week Range: $1.27-$4.90
Three-Month Average Volume: 472,805
From a technical perspective, CORT is ripping higher here right off some near-term support at $1.50 with solid upside volume. This move is quickly pushing shares of CORT within range of triggering a major breakout trade. That trade will hit if CORT manages to take out its 50-day moving average at $1.67 and then once it clears some more overhead resistance at $1.85 with high volume.
Traders should now look for long-biased trades in CORT as long as it's trending above some key near-term support levels at $1.50 to $1.45, and then once it sustains a move or close above those breakout levels with volume that hits near or above 472,805 shares. If that breakout triggers soon, then CORT will set up to re-test or possibly take out its next major overhead resistance levels at $2 to $2.50. It's even possible for CORT to tag its 200-day moving average at $3.11 if we clear $2.50 to $2.75 with volume soon. Gastar Exploration
Gastar Exploration (GST) is an independent energy company, engaged in the exploration, development and production of natural gas and oil in the U.S. This stock is trading up 2.8% to $1.26 in recent trading.