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3 Stocks Under $10 Making Big Moves - 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.
Syntroleum (SYNM) is in the commercialization of its technology to produce synthetic liquid hydrocarbons with reduced levels of contaminants normally found in conventional hydrocarbon products. This stock closed up 5.4% to $4.45 on Thursday.
Thursday's Range: $4.20-$4.69
52-Week Range: $3.30-$10.50
Three-Month Average Volume: 49,000
From a technical perspective, SYNM trended higher here back above its 50-day moving average of $4.25 with above-average volume. This move has started to push shares of SYNM into breakout territory, since the stock took out some near-term overhead resistance levels at $4.29 to $4.40. Shares of SYNM are now quickly moving within range of triggering another near-term breakout trade. That trade will hit if SYNM manages to take out some near-term overhead resistance at $4.80 with high volume.
Traders should now look for long-biased trades in SYNM as long as it’s trending above its 50-day at $4.25 and then once it sustains a move or close above $4.40 to $4.80 with volume that hits near or above 49,000 shares. If that breakout triggers soon, then SYNM will set up to re-test or possibly take out its next major overhead resistance levels at its 200-day of $5.63 or at $5.90.
Exco Resources (XCO) acquires, develops and explores onshore North American oil and natural gas properties. This stock closed up 5.8% to $7.25 on Thursday.
Thursday Range: $6.65-$7.43
52-Week Range: $5.65-$9.08
Volume: 6.39 million
Three-Month Average Volume: 3.25 million
From a technical perspective, XCO soared higher here back above both its 50-day at $6.95 and above its 200-day at $7.27 with monster upside volume. This move is quickly pushing shares of XCO within range of triggering a major breakout trade. That trade will hit if XCO manages to take out some near-term overhead resistance levels at $7.76 to $7.92 and then once it takes out some past resistance at $8.10 with high volume.
Traders should now look for long-biased trades in XCO as long as it’s trending above its 50-day at $6.95 and then once it sustains a move or close above those breakout levels with volume that hits near or above 3.25 million shares. If that breakout triggers soon, then XCO will set up to re-test or possibly take out its next major overhead resistance levels at $8.64 to $8.97.
Pizza Inn (PZZI) and its subsidiaries operate and franchises pizza buffet, delivery, carry-out and express restaurants domestically and internationally under the trademark Pizza Inn. This stock closed up 10.7% to $5.75 on Thursday.
Thursday's Range: $5.00-$5.88
52-Week Range: $2.18-$6.23
Three-Month Average Volume: 51,000
From a technical perspective, PZZI ripped higher here right off some near-term support at $5 with above-average volume. This stock recently pulled back after a sharp uptrend from its high of $6.23 to its near-term support level at $5. Following that rebound, shares of PZZI are now starting to push within range of triggering a near-term breakout trade. That trade will hit if PZZI manages to take out its 52-week high at $6.23 and then once it clears some past overhead resistance levels at $6.50 to $7.07 with high volume.
Traders should now look for long-biased trades in PZZI as long as it’s trending above that near-term support at $5 and then once it sustains a move or close above those breakout levels with volume that hits near or above 51,000 shares. If that breakout triggers soon, then PZZI will set up to trend well north of $7.
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 Madison, Wis., 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.