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5 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 like 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 several under-$5 stocks that are making large-percentage moves to the upside today.
Office Depot (ODP) is a global supplier of office products and services. This stock is trading up 16% at $3.51 in recent trading.
Today’s Range: $3.29-$3.56
52-Week Range: $1.75-$5.54
Volume: 14.3 million
Three-Month Average Volume: 4 million
Shares of ODP are soaring today after the company said that cutting its costs and selling more items at full price helped it return to fourth-quarter profitability, and its adjusted earnings beat Wall Street estimates.
From a technical perspective, ODP is gapping up huge today and breaking out above some near-term overhead resistance at $3.35 on monster volume.
If ODP can manage to close above $3.35 and near its daily highs, then traders should continue to look for long-biased trades in the short-term. A potential move back toward its next significant overhead resistance levels of $4.10 to $4.42 is possible if that $3.35 breakout level holds.
Avino Silver & Gold Mines
Avino Silver & Gold Mines (ASM) is a natural resource company, primarily engaged in the acquisition, exploration and development of natural resource properties. This stock is trading up 17.2% at $2.18 in recent trading.
Today’s Range: $1.98-$2.25
52-week Range: $1.30-$3.60
Three-Month Average Volume: 24,732
From a technical perspective, ASM has broken out above some past overhead resistance today at $2.04, and above its 200-day moving average of $2.16 on above average volume. This move now puts ASM within range of breaking out again above its next significant overhead resistance level at $2.30.
Traders should now watch for a sustained high-volume move and close above $2.30 to signal that ASM wants to trend much higher. Look for volume that’s well above 24,732 shares. If we get that action soon, then target a run back toward its next significant overhead resistance levels at $2.60 to $3 in the near future.
Galena Biopharma (GALE) is a biotechnology company focused on discovering, developing and commercializing therapies addressing unmet medical needs using RNAi-targeted and immunotherapy technologies. This stock is trading up 5% to $1.24 in recent trading.
Today’s Range: $1.20-$1.33
52-week Range: $0.36-$1.65
Volume: 1.5 million
Three-Month Average Volume: 744,731
From a technical perspective, GALE has started to trigger a breakout trade today since the stock has cleared some near-term overhead resistance at $1.20 on heavy volume.
Traders should now watch for a strong close above $1.20, and near its daily high of $1.33 to signal that GALE wants trend much higher. If we get that action today, then look for GALE to make a short-term run at $1.40 to $1.65, or possibly higher as long the upside volume remains strong.
Galena shows up on a recent list of 6 Drug Stocks Unworthy of a Biotech Bull Market.
Solta Medical (SLTM) designs, develops, manufactures and markets professional and consumer energy-based medical device systems for aesthetic applications. This stock is trading up 10% to $3.03 in recent trading.
Today’s Range: $2.76-$3.06
52-week Range: $1.15-$3.69
Three-Month Average Volume: 241,642
From a technical perspective, SLTM has started to surge back above its 50-day moving average of $2.92 on light volume. This move now puts SLTM within range of triggering a big breakout if the stock can manage to clear some overhead resistance levels.
Traders should now watch for a sustained high-volume move and close above $3.18 to $3.26 to signal that this stock wants to trend much higher. Look for volume on a move above those levels that hits near or well above 241,642 shares.
Great Panther Silver
Great Panther Silver (GPL) is a silver mining and exploration company. Great Panther’s activities are focused on the mining of precious and base metals from its wholly owned properties in Mexico. This stock is trading up 4.5% to $2.76 in recent trading.
Today’s Range: $2.69-$2.81
52-week Range: $1.78-$5.04
Volume: 1.7 million
Three-Month Average Volume: 976,655
From a technical perspective, GPL is nearing some key breakout levels today as the stock advances nicely with very strong volume. Those breakout levels to watch for are at $2.79 (its 200-day moving average) and at $3.
Traders should now watch for a sustained high-volume move and close above those levels to signal that GPL wants to trend much higher. If we get that action soon, look for GPL to hit $3.50 to $4 in the near future.
To see more stocks under-$10 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 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.