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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 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 stocks under $5 that are making large-percentage moves to the upside today.
Sunesis Pharmaceuticals (SNSS) is a biopharmaceutical company focused on the development and commercialization of new oncology therapeutics for the treatment of hematologic and solid tumor cancers. This stock is trading up 4% at $2.77 in recent trading.
Today’s Range: $2.64-$2.88
52-Week Range: $1.01-$3.17
Three-Month Average Volume: 388,394
From a technical perspective, SNSS is bouncing modestly today right off a previous support zone at $2.63 with below average volume. This bounce today is forming a continuation pattern of higher lows for SNSS that has been in place for the last month and change.
Traders should now look for long-biased trades in anticipation of a possible breakout above some near-term overhead resistance. That breakout will trigger once SNSS takes out $3.15 to $3.17 with high-volume. Look for volume on that move that’s near or above 388,394 shares. If we get that action soon, look for SNSS to make a run at its next significant overhead resistance level at $3.69.
I would avoid any long trades in SNSS if it breaks back below $2.63 with volume.
Openwave Systems (OPWV) is a software provider delivering mediation and messaging solutions that enable communication service providers, including mobile and broadband operators, to create and deliver services. This stock is trading up 7.9% at $2.45 in recent trading.
Today’s Range: $2.30-$2.48
52-Week Range: $1.17-$2.72
Volume: 1.4 million
Three-Month Average Volume: 708,495
From a technical perspective, OPWV is ripping higher today with big volume right off its 50-day moving average of $2.31. This move is quickly pushing OPWV within range of triggering a near-term breakout trade. That trade will hit once OPWV takes out $2.42 to $2.48 with high volume.
Traders should consider long biased trades on a move and close over $2.42 to $2.48 with volume that’s near or well above 708,485 shares. At last check, OPWV has hit a daily high of $2.48. If that breakout triggers soon, look for OPWV to make a run at $2.72 to $3 in the very near future.
Yingli Green Energy
Yingli Green Energy (YGE) is a vertically integrated photovoltaic, product manufacturer. This stock is trading up 3% to $3.35 in recent trading.
Today’s Range: $3.26-$3.41
52-Week Range: $2.75-$12.69
Three-Month Average Volume: 5,156,240
From a technical perspective, YGE is bouncing higher today right near some major previous support at $3.22 to $3.25 with light volume. This move could be signaling a bottom in the stock as long as YGE can hold above $3.22 to $3.25. If those levels do indeed hold, then YGE could start to spike significantly higher.
Traders should consider long-biased trades in YGE if this stock takes out some near-term overhead resistance at $3.50 with volume. Look for volume on that move that’s near or well above 5,156,240 shares. If we get that action soon, look for YGE to make a run at its 50-day moving average of $4.06 or possibly higher.
Yingli shows up on a list of Stocks in Bottoming Sectors Primed for a 2012 Bounce.
MicroVision (MVIS) develops high-resolution miniature laser display and imaging engines based upon its PicoP display engine technology. This stock is trading up 8.5% to $2.79 in recent trading.
Today’s Range: $2.72-$3.08
52-Week Range: $2.28-$13.76
Three-Month Average Volume: 251,647
Shares of MVIS are ripping higher today after the company said it signed a definitive agreement with Pioneer Corporation to manufacture, distribute, license and supply MicroVision’s HD PicoP Gen2 display engine technology using direct green lasers.
From a technical perspective, MVIS is ripping notably higher today on above average volume. This move is quickly pushing the stock within range of triggering a near-term breakout trade. That trade will hit once MVIS takes out $3.08 with high-volume. At last check, volume is strong today and MVIS has hit a daily high of $3.08, but has since then pulled back to around $2.80.
Traders should now consider long-biased trades if MVIS can close near or above $3.08 with volume. If we get that action soon, look for MVIS to make a run at its 50-day moving average of $3.38 or possibly much higher.
I would avoid long trades in MVIS if the stock closes near or below today’s low of $2.72.
American Apparel (APP) is a vertically-integrated manufacturer, distributor and retailer of branded fashion basic apparel. This stock is trading up 3% to $0.85 in recent trading.
Today’s Range: $0.82-$0.89
52-Week Range: $0.52-$1.69
Volume: 1.3 million
Three-Month Average Volume: 587,786
Shares of APP are soaring today after the company’s CEO was interviewed earlier in the day on CNBC.
From a technical perspective, APP has started to move back above its 200-day moving average today at 83 cents with high-volume. This move is quickly pushing the stock within range of triggering a near-term breakout trade. That trade will hit once APP takes out 93 to 95 cents with high-volume.
Traders should look for long-biased trades if APP can move and close over those levels with volume that’s near or above 587,786 shares. If we get that action soon, look for APP to make a run at $1.05 to $1.21 or higher.
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.