3 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 made large moves to the upside Wednesday.
>>5 Stocks With Huge Insider Buying Ballantyne Strong
Ballantyne Strong (BTN) designs, develops, manufactures, services and distributes theatre and lighting systems. This stock closed up 3.2% to $3.47 on Wednesday.
Wednesday's Range: $3.38-$3.58
52-Week Range: $3.09-$6.48
Three-Month Average Volume: 62,825
From a technical perspective, BTN ripped higher Wednesday right above its 50-day moving average of $3.31 with above-average volume. This stock has been uptrending modestly for the last two months, with shares moving higher from its low of $3.09 to its intraday high of $3.58. During that move, shares of BTN have been mostly making higher lows and higher highs, which is bullish technical price action. That move has now pushed BTN within range of triggering a near-term breakout trade. That trade will hit if BTN manages to take out some near-term overhead resistance levels at $3.56 to $3.60 with high volume.
Traders should now look for long-biased trades in BTN as long as it's trending above its 50-day at $3.31, and then once it sustains a move or close above those breakout levels with volume that hits near or above 62,825 shares. If that breakout hits soon, then BTN will set up to re-test or possibly take out its next major overhead resistance levels at $3.90 to $4.13. Any high-volume move above those levels will then put $4.20 to $4.50 into focus for shares of BTN. Isle of Capri Casinos