7 Stocks Under $10 Moving Higher
Stocks making large moves like these are favorites among short-term traders who jump into these names to try to capture some of that massive volatility. Stocks that are making big-percentage moves either up or down are usually in play because the 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.
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With that in mind, let's take a closer look at a several stocks under $10 that are making large moves to the upside Thursday.
This company operates as a social game developer with 232 million average MAUs in 166 countries. This stock is trading up 5.8% to $2.26 in recent trading.
Today's Range: $2.12-$2.30
52-Week Range: $2.09-$15.91
Volume: 10.53 million
Three-Month Average Volume: 17.35 million
From a technical perspective, ZNGA is ripping higher here right off some previous support levels at $2.10 to $2.09 with decent volume. This spike is coming after shares of ZNGA have dropped in the last three months from $3.40 to $2.09. This action Thursday is now moving ZNGA within range of triggering a near-term breakout trade. That trade will hit once ZNGA manages to take out some near-term overhead resistance levels at $2.37 to $2.62 with high volume.
Traders should now look for long-biased trades in ZNGA as long as it's trending above that near-term support level at $2.09 and once it sustains a move or close above those breakout levels with volume that hits near or above 17.35 million shares. If that breakout triggers soon, then ZNGA will set up to re-test or possibly take out its next major overhead resistance levels at $3.24 to $3.40.
ZaZa Energy (ZAZA)
This company is a privately held independent exploration and production company focused on the exploration and development of unconventional onshore oil and gas resources in the U.S. This stock is trading up 1% to $1.98 in recent trading.