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3 Under-$10 Stocks 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.
The McClatchy Company
The McClatchy Company (MNI) is a news, advertising and information provider, offering an array of print and digital products in each of the markets it serves. This stock closed up 9% to $2.66 on Thursday.
Thursday's Range: $2.52-$2.74
52-Week Range: $1.50-$3.46
Three-Month Average Volume: 355,368
From a technical perspective, MNI soared higher here back above its 200-day moving average of $2.57 with above-average volume. This move briefly pushed MNI back above its 50-day moving average at $2.71, since the stock hit an intraday high of $2.74. Shares of MNI are now starting to flirt with a major breakout trade above some near-term overhead resistance levels at $2.64 to $2.69 and then above its 50-day at $2.71.
Traders should now look for long-biased trades in MNI as long as it’s trending above its 200-day at $2.57 or above Thursday’s low at $2.46 and then once it sustains a move or close above those breakout levels with volume that hits near or above 355,368 shares. If that breakout triggers soon, then MNI will set up to re-test or possibly take out its next major overhead resistance levels at $3 to $3.25. Any high-volume move above $3.25 will put its 52-week high at $3.46 into range for shares of MNI.
Goldfield (GV) is a provider of electrical construction services in the southeastern U.S. and a developer of condominiums on the east coast of Florida. This stock closed up 9% to $3.15 on Thursday.
Thursday's Range: $2.90-$3.18
52-Week Range: $1.08-$5.67
Three-Month Average Volume: 1.17 million
From a technical perspective, GV ripped higher here right off its recent double bottom support zone at $2.77 to $2.79 with decent upside volume. This bounce is coming after shares of GV recently slid lower from its high of $5.67 to its low of $2.77. Shares of GV are now quickly moving within range of triggering a near-term breakout trade. That trade will hit if GV manages to clear some near-term overhead resistance at $3.33 with high volume.
Traders should now look for long-biased trades in GV as long as it’s trending above $3 or above $2.79, and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.17 million shares. If that breakout hits soon, then GV will set up to re-test or possibly take out its next major overhead resistance levels at its 50-day moving average of $3.79 to possibly $4.50.
Curis (CRIS) is a drug discovery and development company that is committed to leveraging its innovative signaling pathway drug technologies in seeking to develop next generation targeted cancer therapies. This stock closed up 7.2% to $ 3.41 on Thursday.
Thursday's Range: $3.18-$3.41
52-Week Range: $2.66-$5.51
Three-Month Average Volume: 371,563
From a technical perspective, CRIS bounced sharply higher here right off its 50-day moving average of $3.18 with above-average volume. This move is quickly pushing shares of CRIS within range of triggering a near-term breakout trade. That trade will hit if CRIS manages to take out some near-term overhead resistance levels at $3.42 to $3.55 and then once it clears more resistance at $3.62 to $3.71 with high volume.
Traders should now look for long-biased trades in CRIS as long as it’s trending above its 50-day at $3.18 and then once it sustains a move or close above those breakout levels with volume that hits near or above 371,563 shares. If that breakout triggers soon, then CRIS will set up re-test or possibly take out its next major overhead resistance levels at $4.30 to $4.50.
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 Madison, Wis.
At the time of publication, author had no positions in stocks mentioned.
Roberto Pedone, based out of Madison, Wis., 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.