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3 Stocks Under $5 Making Large Upside 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 $5 that are making large moves to the upside today.
Bridgeline Digital is a developer of web application management software and web applications that help organizations optimize business processes. This stock is trading up 14.9% to $1.85 in recent trading.
Today's Range: $1.65-$1.89
52-Week Range: $0.51-$3.24
Three-Month Average Volume: 27,922
From a technical perspective, BLIN is ripping to the upside here right off some near-term support at $1.60 with above-average volume. This move has started to push BLIN above some near-term overhead resistance levels at $1.65 to $1.78. Today's action is also pushing BLIN within range of triggering another breakout trade. That trade will hit once BLIN manages to take out some past overhead resistance levels at $2 to $2.14 with high volume.
Traders should now look for long-biased trades in BLIN as long as it's trending above today's low of $1.63, and then once it sustains a move or close above those breakout levels with volume that hits near or above 27,922 shares. If that breakout triggers soon, then look for BLIN to re-test or possibly take out its next major overhead resistance levels at $2.60 to $3.24.
Golden Star Resources
Golden Star Resources is an international gold mining and exploration company, which produces gold in Ghana, West Africa. It also conducts gold exploration in West Africa and in South America. This stock is trading up 6.7% to $1.97 in recent trading.
Today's Range: $1.85-$1.99
52-Week Range: $0.90-$2.39
Volume: 1.12 million
Three-Month Average Volume: 2.50 million
From a technical perspective, GSS is ripping higher here right off its 50-day moving average of $1.84 with light volume. This move is quickly pushing GSS within range of triggering a major breakout trade. That trade will hit once GSS manages to take out some near-term overhead resistance levels at $2.10 to $2.11 with high volume.
Traders should now look for long-biased trades in GSS as long as it's trending above its 50-day at $1.84, and then once it sustains a move or close above those breakout levels with volume that hits near or above 2.50 million shares. If that breakout triggers soon, then look for GSS to re-test or possibly take out its next major overhead resistance levels at $2.25 to $2.39. If GSS takes out those levels with big volume then $2.78 to $3.12 will be the next potential upside targets.
BioMimetic Therapeutics develops and commercializes innovative products to help stimulate the body's natural tissue regenerative process. This stock is trading up 6% to $4.04 in recent trading.
Today's Range: $3.83-$4.12
52-Week Range: $1.87-$4.83
Three-Month Average Volume: 76,187
From a technical perspective, BMTI is bouncing strongly to the upside here right around some near-term support at $3.75 with light volume. This move has also pushed BMTI within range of its 50-day moving average of $4.13. At last check, BMTI has hit an intraday high of $4.12 and volume is below its three-month average action of 76,187 shares.
Traders should now look for long-biased trades in BMTI as long as it's trending above its 50-day at $4.13 with strong upside volume flows. I would consider any upside volume day that registers near or above 76,187 shares as bullish. If BMTI can sustain that trend, then this stock will have a great chance to re-test or possibly take out its next major overhead resistance levels at $4.53 to $4.83. Any high-volume move above $4.83 will then put $5.20 to $6 into focus for BMTI.
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.