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3 Stocks Under $10 Rising on Unusual Volume - 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.
China HGS Real Estate (HGSH)
This company engages in real estate development, primarily in the construction and sale of residential apartments, car parks as well as commercial properties. This stock is trading up 8.9% to $3.40 in recent trading.
Today's Range: $3.00-$3.62
52-Week Range: $0.24-$3.28
Three-Month Average Volume: 64,316
From a technical perspective, HGSH is ripping to the upside here and entering breakout territory above some near-term overhead resistance levels at $3.17 to $3.28 with above-average volume. This stock has been on fire during the last few weeks, with shares soaring from below 50 cents per share to today's high of $3.65 with heavy upside volume.
Traders should now look for long-biased trades in HGSH as long as it's trending above those near-term breakout levels of $3.17 to $3.28 with strong upside volume flows. I would consider any upside volume day that registers near or above its three-month average volume of 64,316 shares as bullish. If HGSH maintains that trend, then this stock will set up to tag $4 to $5 in the near future.
This company operates car sharing network. It provides the freedom of 'wheels when you want them' to over 560,000 Zipsters. This stock is trading up 6.3% to $7.48 in recent trading.
Today's Range: $7.34-$7.75
52-Week Range: $5.90-$17.96
Three-Month Average Volume: 334,376
From a technical perspective, ZIP is gapping higher here back above its 50-day moving average of $7.25 with above-average volume. This move is quickly pushing ZIP within range of triggering a major breakout trade. That trade will hit once ZIP manages to take out some key overhead resistance levels at $7.84 to $8.14, and then once it clears more resistance at $8.28 to $8.69 with high volume.
Traders should now look for long-biased trades in ZIP as long as it's trending above its 50-day at $7.25, and then once it sustains a move or close above those breakout levels with volume that hits near or above 334,376 shares. If that breakout triggers soon, then ZIP will set up to re-fill some of its previous gap down zone from August that started near $11.
This is a global provider of enterprise-class Flash solid-state drives that are designed to increase the performance of enterprise-storage systems and servers that companies use to retain and access their critical data. This stock is trading up 9/9% to $4.54 in recent trading.
Today's Range: $4.07-$4.70
52-Week Range: $3.95-$10.87
Volume: 1.20 million
Three-Month Average Volume: 569,781
From a technical perspective, STEC is ripping to the upside here right off some near-term support at $3.95 with heavy upside volume. This move is coming off of oversold levels, since STEC recently had a relative strength index (RSI) reading that was well below 30. Any ready below 30 is considered extremely oversold levels. This move is now pushing STEC within range of triggering a major breakout trade. That trade will hit once STEC manages to take out some near-term overhead resistance at $4.62 with high volume.
Traders should now look for long-biased trades in STEC as long as it's trending above $3.95, and then once it sustains a move or close above $4.62 with volume that hits near or above 567,781 shares. If that breakout triggers soon, then STEC will set up to re-fill some of its previous gap down zone from earlier this month that started near $5.75.
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.