7 Stocks Under $10 Soaring 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 upgrade.
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 .
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Arena Pharmaceuticals (ARNA) is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing oral drugs that target G protein-coupled receptors, in four therapeutic areas: cardiovascular, central nervous system, inflammatory and metabolic diseases. This stock is trading up 8.7% to $7.69 in recent trading.
Today's Range: $7.20-$7.75
52-Week Range: $1.23-$7.23
Volume: 26.1 million
Three-Month Average Volume: 15.4 million
From a technical perspective , ARNA is ripping higher here on monster volume. This move is a continuation pattern from yesterday when the stock broke out above some past overhead resistance at $7.01 with high volume.
Traders should continue to look for long-biased trades as long as ARNA is trending above $7.01, and once it triggers its next big breakout . The next major breakout will trigger for ARNA once it takes out $8 with high-volume. Look for a sustained move or close over $8 with volume that's near or above 15.4 million shares. If we get that action soon, then ARNA could easily continue its uptrend towards $10 in the near future.
Arena shows up on a list of Hot Biotech Stocks Traded by Hedge Funds . Theragenics
Theragenics(TGX) is a medical device company, manufactures, markets, and sells disposable devices and radioactive seeds to the surgical products and cancer treatment markets. This stock is trading up 17.6% to $2.07 in recent trading.