5 Stocks Under $10 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 under $10 that are making large moves to the upside today.
Gevo (GEVO) , a renewable chemicals and advanced biofuels company, is trading up 6% to $2.58 in recent trading.
Today's Range: $2.40-$2.68
52-Week Range: $1.36-$11.29
Volume: 1.94 million
Three-Month Average Volume: 900,782
From a technical perspective, GEVO is ripping higher here right off $2.40 with above-average volume. This move has started to push shares of GEVO into breakout territory, since the stock briefly pushed above some near-term overhead resistance at $2.63. At last check, GEVO has hit an intraday high of $2.68 and volume is well above its three-month average action of 900,782 shares.
Traders should now look for long-biased trades in GEVO as long as it's trending above $2.24, and then once it sustains a move or close above $2.63 to $2.68 with volume that hits near or above 900,782 shares. If that breakout triggers soon, then GEVO will set up to re-test or possibly take out its next major overhead resistance levels $3.20 to its 200-day moving average at $3.59.
GT Advanced Technologies
GT Advanced Technologies (GTAT) is a global provider of polysilicon production technology, crystalline ingot growth systems and related photovoltaic manufacturing services for the solar industry. This stock is trading up 7.5% to $3.43 in recent trading.
Today's Range: $3.18-$3.46
52-Week Range: $2.82-$9.80
Volume: 2.50 million
Three-Month Average Volume: 3.27 million
From a technical perspective, GTAT is soaring higher here right off its 50-day moving average of $3.22 with decent volume. This move is quickly pushing the stock within range of triggering a near-term breakout trade. That trade will hit if GTAT manages to take out some near-term overhead resistance levels at $3.37 to $3.55 with high volume.