3 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.
Furniture Brands International
Furniture Brands International (FBN) is engaged in the design, manufacturing, sourcing and retailing of home furnishings. This stock is trading up 6.4% to $1.32 in recent trading.
Today's Range: $1.24-$1.33
52-Week Range: $0.88-$2.10
Three-Month Average Volume: 445,215
From a technical perspective, FBN is ripping higher here right above its 200-day moving average of $1.21 with above-average volume. This stock has started to trigger a breakout here, since FBN has taken out some near-term overhead resistance at $1.24 with volume. At last check, FBN has hit an intraday high of $1.33 and volume is just starting to surpass its three-month average volume of 445,215 shares.
Traders should now look for long-biased trades in FBN as long as it's trending above its 200-day moving average of $1.21 to its breakout level of $1.24 with strong upside volume flows. I would consider any upside volume day that registers near or above its three-month average action of 445,215 shares as bullish. If FBN can maintain that trend, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $1.59 to $1.73. Any move above $1.73 will then put $1.82 into range for shares of FBN.
RadioShack (RSH) is engaged in the retail sale of consumer electronics goods and services through its RadioShack store chain. This stock is trading up 4.7% to $2.42 in recent trading.
Today's Range: $2.30-$2.47
52-Week Range: $1.90-$10.34
Volume: 1.98 million
Three-Month Average Volume: 2.45 million
From a technical perspective, RSH is spiking higher here right above some near-term support at $2.20 with decent volume. This move is quickly pushing the stock within range of triggering a near-term breakout trade. That trade will hit if RSH manages to take out some near-term overhead resistance levels at $2.43 to $2.46 and then once it clears more resistance at $2.71 with high volume. At last check, RSH has hit an intraday high of $2.47 and volume is tracking in a bit below its three-month average action of 2.45 million shares.