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4 Under-$10 Stocks 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 $10 that are making large moves to the upside today.
This is a provider of intelligent voice and audio solutions that improve voice quality and the user experience in mobile devices. This stock is trading up 6.2% to $8.68 in recent trading.
Today's Range: $8.13-$8.83
52-Week Range: $5.51-$23.41
Three-Month Average Volume: 442,232
From a technical perspective, ADNC is trending higher here with light volume. This move has started to push the stock into breakout territory, since shares are moving above some near-term overhead resistance at $8.54. This move is also pushing ADNC into large gap down zone from September that started around $19.
Traders should now look for long-biased trades in ADNC as long as it's trending above $7.71, and then once it sustains a move or close above $8.54 with volume that hits near or above 442,232 shares. If ADNC can maintain a high-volume trend into that previous gap down zone, then this stock could be setting up for an explosive move higher. Some possible upside targets are $10 to $13 in the near future.
Quality Distribution (QLTY)
This company and its subsidiaries are engaged in truckload transportation of bulk chemicals in North America. This stock is trading up 6.2% to $6.17 in recent trading.
Today's Range: $5.85-$6.28
52-Week Range: $4.91-$14.61
Three-Month Average Volume: 193,256
From a technical perspective, QLTY is bouncing higher today right above some near-term support at $5 with above-average volume. This stock recently gapped down big earlier this month from around $8.50 to $5.47 with huge downside volume. Following that move, shares of QLTY have started to rebound sharply and move within range of breaking out above its gap down day high of $6.33.
Traders should now look for long-biased trades in QLTY as long as it's trending above $5.40, and then once it sustains a move or close above $6.33 with volume that hits near or above 193,256 shares. If that breakout triggers soon, then QLTY will set up to re-fill some of that gap back towards $8.50.
ServiceSource International (SREV)
This company helps hardware, software, healthcare, and life sciences companies derive from their customers more revenue from maintenance, support and subscription agreements. This stock is trading up 6.8% to $4.85 in recent trading.
Today's Range: $4.58-$4.90
52-Week Range: $4.01-$18.00
Three-Month Average Volume: 979,914
From a technical perspective, SREV is ripping higher here right off some near-term support at $4.50 with decent volume. This move has started to push SREV into breakout territory, now that the stock has pushed above some near-term overhead resistance at $4.78. At last check, SREV has hit an intraday high of $4.91 and volume is a bit below its three-month average action of 979,914 shares. Shares of SREV are now moving within range of an even bigger breakout above its gap down day high of $5.60.
Traders should now look for long-biased trades in SREV as long as it's trending above $4.45, and then once it sustains a move or close above its recent gap down day high of $5.60 with volume that hits near or above 979,914 shares. If SREV triggers that breakout, then the stock will set up to re-fill some of that massive gap down zone from earlier November that started at around $8.
Knight Capital Group (KCG)
This is a financial services firm that provides market access and trade execution services across multiple asset classes to buy- and sell-side firms as well as offers capital markets services to corporate issuers & private companies. This stock is trading up 6% to $2.99 in recent trading.
Today's Range: $2.83-$3.03
52-Week Range: $2.24-$13.59
Volume: 7.12 million
Three-Month Average Volume: 2.83 million
Shares of KCG are moving higher today after Keefe Bruyette & Woods said the company may fetch as much as 1.4 billion in an acquisition based on the value of its biggest businesses.
From a technical perspective, KCG is trending higher here right above its 50-day moving average of $2.58 with monster upside volume. This move is quickly pushing KCG within range of triggering a major breakout trade. That trade will hit once KCG manages to take out some key overhead resistance levels at $3.04 to $3.12 with high volume.
Traders should now look for long-biased trades in KCG as long as it's trending above its 50-day at $2.58, and then once it sustains a move or close above those breakout levels with volume that hits near or above 2.83 million shares. If KCG triggers that breakout, then this stock will set up to re-test or possibly take out its next major overhead resistance level at $4.25. Any high-volume move above $4.25 will then put KCG into play to re-fill some of its massive gap down zone from August that started near $7.
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.