3 Stocks Under $5 Making Large Moves to the Upside
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.
Bridgeline Digital (BLIN) is a developer of web application management software and web applications that help organizations optimize business processes. This stock is trading up 14.9% to $1.85 in recent trading.
Today's Range: $1.65-$1.89
52-Week Range: $0.51-$3.24
Three-Month Average Volume: 27,922
From a technical perspective, BLIN is ripping to the upside here right off some near-term support at $1.60 with above-average volume. This move has started to push BLIN above some near-term overhead resistance levels at $1.65 to $1.78. Today's action is also pushing BLIN within range of triggering another breakout trade. That trade will hit once BLIN manages to take out some past overhead resistance levels at $2 to $2.14 with high volume.
Traders should now look for long-biased trades in BLIN as long as it's trending above today's low of $1.63, and then once it sustains a move or close above those breakout levels with volume that hits near or above 27,922 shares. If that breakout triggers soon, then look for BLIN to re-test or possibly take out its next major overhead resistance levels at $2.60 to $3.24.
Golden Star Resources
Golden Star Resources (GSS) is an international gold mining and exploration company, which produces gold in Ghana, West Africa. It also conducts gold exploration in West Africa and in South America. This stock is trading up 6.7% to $1.97 in recent trading.
Today's Range: $1.85-$1.99
52-Week Range: $0.90-$2.39
Volume: 1.12 million
Three-Month Average Volume: 2.50 million
From a technical perspective, GSS is ripping higher here right off its 50-day moving average of $1.84 with light volume. This move is quickly pushing GSS within range of triggering a major breakout trade. That trade will hit once GSS manages to take out some near-term overhead resistance levels at $2.10 to $2.11 with high volume.