4 Under-$10 Stocks 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.
CalAmp (CAMP) develops and markets wireless communications solutions that deliver data, voice and video for critical networked communications and other applications. This stock is trading up 8% to $9.31 in recent trading.
Today's Range: $8.80-$9.39
52-Week Range: $3.46-$9.72
Three-Month Average Volume: 281,122
From a technical perspective, CAMP is gapping higher here with above-average volume. This move has sent CAMP above some near-term overhead resistance at $9.06 and it's pushing the stock within range of triggering a major breakout trade. That trade will hit once CAMP manages to take out some near-term overhead resistance at $9.67 to $9.72 with high volume.
Traders should now look for long-biased trades in CAMP as long as it's trending above its 50-day at $8.25, and then once it sustains a move or close above those breakout levels with volume that hits near or above 281,122 shares. If that breakout triggers soon, then CAMP could easily trend well north of $10 in the near future.
Thompson Creek Metals
Thompson Creek Metals (TC) operates mines, mills, and metallurgical roasting facilities in Canada and the United States. This stock is trading up 9.3% to $3.02 in recent trading.
Today's Range: $2.78-$3.09
52-Week Range: $2.25-$9.50
Volume: 3.39 million
Three-Month Average Volume: 2.34 million
From a technical perspective, TC is ripping higher here with monster upside volume. This move has started to push TC back above its 50-day at $2.92 and above some near-term overhead resistance levels at $2.95 to $2.99.
Traders should now look for long-biased trades in TC as long as it's trending above its 50-day at $2.92 with strong upside volume flows. I would consider any upside volume day that registers near or above its three-month average action of 2.34 million shares. If TC can maintain that trend, then look for this stock to make a run at its next major overhead resistance level at $3.87.