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.
>>4 Hot Stocks to Trade (or Not) Kinross Gold
Kinross Gold (KGC) is mainly engaged in the mining and processing of gold and, as a by-product, silver ore and the exploration for and the acquisition of gold-bearing properties in the Americas, the Russian Federation and worldwide. This stock is trading up 5.3% to $8.32 in recent trading.
Today's Range: $7.96-$8.45
52-Week Range: $7.11-$11.68
Volume: 7.95 million
Three-Month Average Volume: 7.43 million
From a technical perspective, KGC is ripping higher here right above its recent low of $7.88 with above-average volume. This move has started to push KGC into breakout territory, since the stock has taken out some near-term overhead resistance at $8.40. At last check, KGC has hit an intraday high of $8.45 and volume is just starting to surpass its three-month average action of 7.43 million shares.
Traders should now look for long-biased trades in KGC as long as it's trending above $8.40, and then once it triggers its next major breakout above resistance at $8.65 with volume that hits near or above 7.43 million shares. If that breakout triggers soon, then KGC will set up to re-test or possibly take out its next major overhead resistance levels at its 200-day moving average of $9.17 or its 50-day moving average of $9.17. Any high-volume move above those levels will then put $9.91 to $10.10 into focus for shares of KGC. Metabolix