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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 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 a several stocks under $5 that are making large moves to the upside today.
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Repligen (RGEN) is a biopharmaceutical company focused on the development and commercialization of therapies that harness biological pathways and deliver value to patients and clinicians in the fields of neurology and gastroenterology. This stock is trading up 6.5% to $4.05 in recent trading.
Today’s Range: $3.81-$4.04
52-Week Range: $2.90-$7.29
Three-Month Average Volume: 211,470
From a technical perspective, RGEN is ripping higher here on light volume right off some near-term support at $3.72. This move is quickly pushing RGEN within range of taking out its 200-day moving average of $4.05.
Traders should now look for long-biased trades if RGEN can manage to sustain a move or close back above its 200-day at $4.05 with volume that’s near or above 211,470 shares. If we get that action soon, then RGEN could easily continue to uptrend back towards its next significant overhead resistance level at $4.72, or even its 50-day moving average of $4.98 in the near future.
Kingold Jewelry (KGJI) engages in the design, manufacture, and sale of gold jewelry and Chinese ornaments in the People’s Republic of China. It provides a range of gold products, including gold necklaces, rings, earrings, bracelets, pendants, and gold bars. This stock is trading up 5.6% at $2.63 in recent trading.
Today’s Range: $2.43-$2.80
52-Week Range: $0.88-$2.93
Three-Month Average Volume: 393,789
From a technical perspective, KGJI is moving sharply higher here on above-average volume. This move is coming off some near-term support at $2.40.
Traders should now look for long-biased trades if KGJI can manage to trigger a major breakout trade. That trade will hit once KGJI takes out some near-term overhead resistance at $2.77 to $2.93 with high volume. Look for a sustained move or close above those levels with volume that’s near or above 393,789 shares. If we get that action, this stock could easily explode to the upside since momentum traders will get interested with KGJI trading at a new 52-week high. Traders should use the $2.40 to $2.20 areas as near-term support zones.
I also featured Kingold on a recent list of breakout stocks.
Verenium (VRNM) is an industrial biotechnology company that manufactures and markets its enzyme products in the fields of animal health and nutrition, grain processing, oilseed processing and other markets, such as oilfield services, pulp and paper and textiles. Its product pipeline consists of a series of products, which address the markets the company serves, as well as enzyme markets. This stock is trading up 7.7% at $3.48 in recent trading.
Today’s Range: $3.27-$3.59
52-Week Range: $1.35-$5.66
Three-Month Average Volume: 138,323
From a technical perspective, VRNM is moving sharply to the upside here on light volume. This move is coming off of some near-term support at around $3.25, and right above its 200-day moving average of $3.01.
Traders should now look for long-biased trades if VRNM can manage to trigger a major breakout trade above some near-term overhead resistance. That trade will hit once VRNM takes out some near-term overhead resistance at $3.63, and then its 50-day moving average of $3.88 with high-volume. Look for a sustained move or close above those levels with volume that’s near or above 138,323 shares. If we get that action soon, then VRNM could easily tag $4.50 to $5 very quickly.
On the flipside, this stock should be avoided if it moves back below its 200-day at $3.01 with heavy volume.
-- 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.