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3 Stocks Under $10 Moving Higher - views
Stocks that are making large-percentage 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 three stocks under $10 that are making big moves to the upside today.
PDF Solutions (PDFS) is a provider of infrastructure technologies and services to the integrated circuit design and manufacturing, improve time to market and improve profitability by addressing design and manufacturing interactions from product design to initial process ramps to mature manufacturing operations. This stock is trading up 10% to $7.48 in recent trading.
Today’s Range: $6.68-$7.56
52-week Range: $3.45-$7.17
Three-Month Average Volume: 63,833
From a technical perspective, PDFS has started to trigger a major breakout trade today now that this stock is moving above some past overhead resistance at $7.14 to $7.17 on big volume.
Traders should continue to look for long-biased traders as long as PDFS continues to trend above those breakout levels with strong volume. The next reasonable target is near $10, as long as the uptrend continues.
Amyris (AMRS) develops and provides renewable compounds for a variety of markets. This stock is trading up 5.7% to $6.07 in recent trading.
Today’s Range: $5.70-$6.15
52-Week Range: $5.68-$33.85
Three-Month Average Volume: 272,426
From a technical perspective, AMRS has been in nasty downtrend for months. This stock just recently plunged from its February high of $10.27 to a low of $5.68 on monster volume. The stock is now starting to find some buying support off that $5.68 low on decent volume today.
Market players should make note that this stock is very oversold since its current relative strength index reading is 28. Traders can look for long biased trades in AMRS now as long as the stock remains above that $5.68 low, and the upside volume is tracking in strong.
AXT (AXTI), through its subsidiaries, is a developer and producer of compound and single element semiconductor substrates, including substrates made from gallium arsenide, indium phosphide and germanium. This stock is trading up 9.2% to $5.57 in recent trading.
Today’s Range: $5.28-$5.88
52-Week Range: $3.63-$9.24
Three-Month Average Volume: 229,880
From a technical perspective, AXTI is now trading within range of triggering a big breakout trade if this stock can manage to clear some overhead resistance levels at $5.80 to $6.12 (its 200-day moving average) with high-volume. A sustained high-volume move and close above those levels should set AXTI up to trend significantly higher.
At last check, volume today is big and the stock has hit a high of $5.88. If that breakout triggers soon, then look for AXTI to make a run at $8 to $8.50.
To see more stocks under $10 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 stocks, options, futures, commodities and currencies. He is also an outside contributor to Beconequity.com and maintains the website Maddmoney.net, which he sold to Blue Wave Advisors in 2008. Roberto studied International Business at The Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany.