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3 More Under-$10 Stocks Moving Higher - views
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.
This company (LUV) is engaged as a major passenger airline that provides scheduled air transportation in the United States. The company mainly provides point-to-point, rather than hub-and-spoke, service. This stock is trading up 1.6% to $9.16 in recent trading.
Today's Range: $9.00-$9.20
52-Week Range: $7.37-$10.05
Volume: 2.96 million
Three-Month Average Volume: 6.60 million
From a technical perspective, LUV is moving modestly higher here as the stock bounces right off its 50-day moving average of $8.95 with light volume. This stock has been trending inside of a sideways trading pattern for the last three months, with shares moving between $8.68 on the downside and $9.52 on the upside. Shares of LUV are now moving within range of breaking out above the upper-end of that recent trading pattern.
Traders should now look for long-biased trades in LUV as long as it's trending above its 50-day at $8.95, and then once it sustains a move or close above some near-term overhead resistance levels at $9.20 to $9.52 with high volume. Look for volume on any move above those levels that hits near or above 6.60 million shares. If that breakout triggers soon, then LUV will set up to re-test or possibly take out its next major overhead resistance levels at $9.81 to $10.02. Any high-volume move above $10.02 will then put $10.50 to $11 into focus for shares of LUV.
This company (MKTG) is a provider of on-demand software and professional services company engages in relationship marketing across the interactive channels. This stock is trading up 7% to $6.80 in recent trading.
Today's Range: $6.36-$6.96
52-Week Range: $5.75-$12.97
Three-Month Average Volume: 360,440
From a technical perspective, MKTG is ripping to the upside here with above-average volume. This move is coming after shares of MKTG recently gapped down sharply from around $9 to its recent low of $5.75 with huge volume. Following that gap down, shares of MTKG have started to spike higher with the stock now trading at $6.80. That bounce is coming off oversold levels, since its current relative strength index (RSI) reading is 28.3. That bounce is also starting to push MTKG within range of triggering a near-term breakout trade.
Traders should now look for long-biased trades in MKTG once it manages to sustain a move or close above its gap down day high of $7.15 with volume that hits near or above 360,440 shares. If that breakout triggers soon, then look for MKTG to re-fill some of that previous gap that started near $9. This stock could fill that gap very quickly, so be ready to play this if $7.15 gets taken out with volume.
This company (BONE) develops, manufactures and markets biologics products to domestic and international markets. This stock is trading up 8.8% to $1.35 in recent trading.
Today's Range: $1.22-$1.40
52-Week Range: $1.10-$3.54
Three-Month Average Volume: 144,154
From a technical perspective, BONE is bouncing strongly here right off some near-term support at $1.20 with above-average volume. This move is quickly pushing BONE within range of triggering a near-term breakout trade. That trade will hit once BONE manages to clear some near-term overhead resistance levels at $1.40 to $1.47 with high volume. At last check, BONE has hit an intraday high of $1.40 and volume is tracking in well above its three-month average action of 144,154 shares.
Traders should now look for long-biased trades in BONE once it sustains a move or close above those breakout levels with volume that hits near or above 144,154 shares If that breakout triggers soon, then BONE will set up to re-test or possibly take out its next major overhead resistance levels at $1.65 to $176. Any high-volume move above $1.76 will then put $1.82 to $1.89 into focus for BONE.
To see more stocks that are making notable moves higher today, check out the Stocks Under $10 Moving Higher portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.
At the time of publication, author had no positions in stocks mentioned.
Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.