4 Stocks Under $10 Moving 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.
Emerald Oil (EOX) , an exploration and production company focused primarily on acquiring acreage and developing wells in prospective shale oil plays in the continental U.S., is trading up 5.1% to $5.75 in recent trading.
Today's Range: $5.49-$5.78
52-Week Range: $3.90-$25.20
Three-Month Average Volume: 183,635
From a technical perspective, EOX is ripping higher here right above its 50-day moving average of $5.16 with lighter-than-average volume. This move is quickly pushing shares of EOX within range of triggering a near-term breakout trade. That trade will hit if EOX takes out some near-term overhead resistance at $6.27 with high volume.
Traders should now look for long-biased trades in EOX as long as it's trending above its 50-day at $5.16 and then once it sustains a move or close above $6.27 with volume that hits near or above 183,635 shares. If that breakout triggers soon, then EOX will set up to re-test or possibly take out its next major overhead resistance levels at $7.50 to $8. Any move above $8 will then put its 200-day moving average of $8.94 into range for shares of EOX.
Asset Acceptance Capital
Asset Acceptance Capital (AACC) is engaged in the purchase and collection of defaulted and charged-off accounts receivable portfolios. This stock is trading up 3.2% to $5.10 in recent trading.
Today's Range: $4.92-$5.24
52-Week Range: $3.97-$8.16
Three-Month Average Volume: 35,063
From a technical perspective, AACC is trending higher here right above its 50-day moving average of $4.69 with lighter-than-average volume. This move is quickly pushing shares of AACC within range of triggering a near-term breakout trade. That trade will hit if AACC manages to take out some near-term overhead resistance at $5.19 with high volume. At last check, AACC has hit an intraday high of $5.25 and volume is well below its three-month average action of 35,063 shares.