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3 Stocks Under $5 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.
Asia Entertainment & Resources
Asia Entertainment & Resources (AERL), through its subsidiaries, engages in the promotion of VIP gaming rooms in Macau, the People’s Republic of China. This stock is trading up 5.5% at $3.45 in recent trading.
Today’s Range: $3.31-$3.60
52-Week Range: $2.40-$8.46
Three-Month Average Volume: 105,148
From a technical perspective, AERL is moving sharply higher here with above average volume. This stock had been stuck in nasty downtrend for the last six months, with shares plunging from $6.95 to its recent low of $2.40. During that downtrend, shares of AERL had been consistently making lower highs and lower lows, which is bearish technical price action. That said, this stock has started to bounce off $2.40 and it’s now trading very close to its 50-day moving average of $3.65.
Traders should now look for long-biased trades in AERL if it can manage to sustain a move or close back above its 50-day of $3.65 with high volume. Look for volume off that move that hits near or above 105,148 shares. If we get that action soon, then AERL will setup to re-test or possibly take out its next major overhead resistance levels at $4.18 to $4.50. It’s possible that AERL could even re-test its 200-day moving average of $5.50 if we blast above its 50-day with volume soon.
Partner Communications (PTNR) is a mobile telephone network operator in Israel. The company’s products and services are marketed under the orange brand. This stock is trading up 8% to $3.63 in recent trading.
Today’s Range: $3.45-$3.67
52-Week Range: $3.00-$13.06
Three-Month Average Volume: 157,733
Shares of PTNR are ripping to the upside today after the company said it plans to partner with Cellcom for a new solution that consists of television-over-Internet services as weak earnings highlighted their need for profitable new earnings streams. The company’s CEL said he was examining Internet TV as well as an entry into the cellular credit card business.
From a technical perspective, PTNR is ripping higher today right off some near-term support at $3.30 with light volume. This stock has been crushed by the bears during the last six months, with shares plunging from over $8 to its recent low of $3. This spike today is quickly pushing PTNR within range of triggering a near-term breakout trade. That trade will hit once PTNR takes out some near-term overhead resistance levels at $3.67 to $4.01 with high volume.
Traders should now look for long-biased trades in PTNR as long as it’s trending above $3.67, and then once it clears its 50-day at $3.88 and $4.01 with heavy volume. Look for a sustained move or close above those levels with volume that’s near or above 157,733 shares. If that breakout triggers soon, then PTNR will have a great chance of re-testing or possibly taking out its next major overhead resistance levels at $4.75 to $5, or possibly even $5.50.
Teekay Tankers (TNK) is engaged in the international marine transportation of crude oil through the operation of its oil tankers. This stock is trading up 4.4% to $4.32 in recent trading.
Today’s Range: $4.14-$4.32
52-Week Range: $3.36-$7.00
Three-Month Average Volume: 793,697
From a technical perspective, TNK is trending higher here right off its 50-day moving average of $4.15 with decent volume. This move is quickly pushing TNK within range of triggering a major breakout trade. That trade will trigger once TNK takes out some near-term overhead resistance at $4.35 to $4.59 with high volume.
Traders should now look for long-biased trades in TNK if it can sustain a move or close above those levels with volume that’s near or above 793,697 shares. Keep in mind that TNK’s 200-day moving average also falls within that range at $4.45. If that breakout triggers soon, then TNK will have a great chance of re-testing or possibly taking out its next major overhead resistance levels at $5 to $5.50. Traders can also look for long-biased trades in TNK as long as it’s trending above $4.02 with strong volume, and then simply anticipate that breakout.
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.