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3 Tech Stocks Under $5 Spiking Higher - 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 that are making large moves to the upside today.
ARC Document Solutions
ARC Document Solutions (ARC) is a reprographics company in the U.S. that provides highly specialized document management services, document distribution and logistics, and print-on-demand services. This stock is trading up 5.5% to $2.85 in recent trading.
Today’s Range: $2.74-$2.90
52-Week Range: $2.12-$6.08
Three-Month Average Volume: 164,439
From a technical perspective, ARC is ripping higher here right above some near-term support at $2.66 with decent upside volume. This move is quickly pushing shares of ARC within range of triggering a major breakout trade. That trade will hit if ARC manages to take out some near-term overhead resistance levels at $2.87 to $3 with high volume.
Traders should now look for long-biased trades in ARC as long as it’s trending above that key support at $2.66 or above its 50-day at $2.49 and then once it sustains a move or close above those breakout levels with volume that hits near or above 164,439 shares. If that breakout triggers soon, then ARC will set up to re-test or possibly take out its next major overhead resistance level at its 200-day moving average of $3.51. Any high-volume move above $3.51 will then put $4 to $4.15 into range for shares of ARC.
Himax Technologies (HIMX) designs, develops and markets semiconductors that are critical components of flat panel displays. Its main products are display drivers for large-sized TFT-LCD panels. This stock is trading up 5.7% to $4.61 in recent trading.
Today’s Range: $4.36-$4.70
52-Week Range: $1.47-$4.95
Volume: 3.09 million
Three-Month Average Volume: 1.63 million
From a technical perspective, HIMX is ripping higher here right above some near-term support at $4 with heavy upside volume. This stock has been uptrending strong for the last month, with shares moving higher from its low of $3.82 to its intraday high of $4.70. During that move, shares of HIMX have been consistently making higher lows and higher highs, which is bullish technical price action. That move is now quickly pushing shares of HIMX within range of triggering a major breakout trade. That trade will hit if HIMX manages to take out its 52-week high at $4.95 with high volume.
Traders should now look for long-biased trades in HIMX as long as it’s trending above some key near-term support levels at $4.25 to $4, and then once it sustains a move or close above $4.95 with volume that hits near or above 1.63 shares. If that breakout triggers soon, then HIMX will set up to enter new 52-week high territory, which is bullish technical price action. Some possible upside targets off that breakout are $6 to $7.
GT Advanced Technologies
GT Advanced Technologies (GTAT) is a technology company with innovative crystal growth equipment and solutions for solar, LED and electronics industries. This stock is trading up 11.6% to $2.97 in recent trading.
Today’s Range: $2.68-$3.02
52-Week Range: $2.61-$8.49
Volume: 4.19 million
Three-Month Average Volume: 2.90 million
From a technical perspective, GTAT is skyrocketing higher here right off some near-term support at $2.63 with heavy upside volume. This stock recently sold off hard from its near-term high of $3.94 to a low of $2.61. Following that slide, GTAT went on to put in a double bottom chart pattern at $2.61 to $2.63. Shares of GTAT have started to spike dramatically higher off that double bottom area, and it’s now quickly moving within range of triggering a major breakout trade. That trade will hit if GTAT manages to take out some near-term overhead resistance levels at $2.93 to its 50-day moving average at $3.08 with high volume.
Traders should now look for long-biased trades in GTAT as long as it’s trending above those double bottom levels at $2.63 to $2.61 and then once it sustains a move or close above those breakout levels with volume that hits near or above 2.9 million shares. If that breakout hits soon, then GTAT will set up for a potentially explosive move higher that takes the stock back towards $3.75 to $3.94. Any high-volume move above $3.94 will then put its 200-day moving average at $4.28 into range for shares of GTAT.
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.