3 Stocks Under $10 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 moves either up or down are usually in play because their sector is becoming attractive or they have a major fundamental catalyst like 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 several stocks under $10 that are making large-percentage moves to the upside today .
Renren(RENN) is a social networking Internet platform in China. Renren generates revenues from online advertising and Internet value-added services. This stock is trading up 4.3% at $5.76 in recent trading.
Today's Range: $5.61-$6.18
52-Week Range: $3.21-$24.00
Volume: 21.3 million
Three-Month Average Volume: 9.3 million
From a technical perspective, RENN has started to move back above its 50-day moving average today at $5.39 on monster upside volume. This move has also briefly triggered a breakout trade since RENN took out some near-term overhead resistance at $5.92 to $6.09. At last check, the stock has hit a daily high of $6.20, but has now pulled back to around $5.80.
Traders should now look for long-biased trades if RENN can manage to close near its daily highs and above $5.92. If we get that action soon, then look for RENN to make a run at $6.80 to $7.34 in the near future.
Renren shows up on a list of 3 Tech Turnaround Stocks for 2012 . Rick's Cabaret
Rick's Cabaret (RICK) , through its subsidiaries, owns and/or operates a total of 21 adult nightclubs that offer live adult entertainment, restaurant and bar operations. This stock is trading up 4.2% at $9.71 in recent trading.
Today's Range: $9.39-$9.79
52-Week Range: $6.06-$11.05
Three-Month Average Volume: 50,403
Shares of RICK are surging today after the company said its nightclub sales rose to $25 million in the quarter ended March 31, 2012, a 17.9% increase over the $21.2 million registered in the same period in 2011.