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8 Stocks Under $10 Ripping Higher - views
Stocks that are making large percentage 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 such as a recent earnings release. Sometimes stocks making big moves have been hit with an analyst upgrade or an analyst upgrade.
>>5 Big Stocks to Trade for Gains
No matter what the reason is, 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 percentage moves to the upside today.
Republic Airways (RJET) is an airline holding company that owns Chautauqua Airlines, Frontier Airlines, Republic Airlines and Shuttle America. This stock is trading up 15% at $5.22 in recent trading.
Today’s Range: $5.11-$5.36
52-Week Range: $2.47-$6.87
Three-Month Average Volume: 398,034
Shares of RJET are ripping today after the company raised its outlook for fourth-quarter guidance due to the strong performance of its Frontier Airlines service.
From a technical standpoint, RJET is gapping up big today and breaking out above some past overhead resistance at $4.78 on monster volume. Market players should continue to look for long biased trades in RJET as long as the stock closes above $4.78 today and near its daily highs.
If we get that action, then look for RJET to re-test its next significant overhead resistance levels at $5.69 to $6.50 in the near future.
Canadian Solar (CSIQ) designs, develops, manufactures and sells solar cell and solar module products that convert sunlight into electricity for a variety of uses. This stock is trading up 12.5% at $3.58 in recent trading.
Today’s Range: $3.45-$3.70
52-Week Range: $2.07-$16.79
Volume: 1.67 million
Three-Month Average Volume: 1.1 million
Shares of CSIQ are ripping higher today after the company announced an agreement to supply more than 1.5 MW of solar modules to Al Fahad Group, which is building a large solar project in Abu Dhabi.
From a technical standpoint, CSIQ is getting very close to triggering a major breakout trade today with the stock trading right below some near-term overhead resistance at $3.73. Traders should now watch for a sustained high-volume move or close over $3.73 to $3.85 to trigger a big breakout trade.
At last check, volume today is clocking in well over the three-month average, which is bullish. If that breakout triggers soon, then CSIQ has a solid chance to hit $5 or potentially higher.
Cytori Therapeutics (CYTX) develops, manufactures, and sells medical products and devices to enable the practice of regenerative medicine. This stock is trading up 7.3% at $3.49 in recent trading.
Today’s Range: $3.27-$3.62
52-Week Range: $1.90-$8.44
Three-Month Average Volume: 376,429
From a technical standpoint, CYTX has started to break out today now that this stock is moving above some past overhead resistance at $3.30 to $3.43 on solid volume. Traders should now watch for CYTX to take out its next significant overhead resistance levels at $3.72 and then its 200-day moving average of $3.94.
A strong close in the stock today should keep traders looking for long-biased swing trades back towards those next resistance levels. If $3.94 is then taken out with volume, look for CYTX to re-test $4.33 to $4.50 in the near future.
Gulf Resources (GURE) manufactures and trades bromine and crude salt, and manufactures and sells chemical products used in oil and gas field exploration, oil and gas distribution, oil field drilling, wastewater processing, papermaking chemical agents and inorganic chemicals. This stock is trading up 6.7% at $2.69 in recent trading.
Today’s Range: $2.64-$2.77
52-Week Range: $1.51-$10.09
Three-Month Average Volume: 289,966
From a technical standpoint, GURE has started to trigger a major breakout trade today now that this stock is moving above some near-term overhead resistance at $2.67 and its 200-day moving average of $2.69 on big volume. If GURE can manage to close strong near its daily highs, then market players should continue to look for long biased trades.
Some potential upside targets are $3.28 to $3.50, but make sure GURE remains above the 200-day if you play it from the long side.
National Bank of Greece
National Bank of Greece (NBG), a Greece-based financial institution, is trading up 15.5% to $3.21 in recent trading.
Today’s Range: $3.10-$3.24
52-Week Range: $1.64-$11.85
Volume: 2.2 million
Three-Month Average Volume: 763,189
From a technical standpoint, NBG has started to break out today on monster volume above a number of key technical overhead resistance levels. Market players should now watch for NBG to sustain a high-volume move or close above $3.25 to signal that it wants to trend much higher.
If we get a high-volume move over $3.25 soon, then look for NBG to make a run at $4.14 to its 200-day moving average of $4.69 in the near future. Look for volume over $3.25 that registers more than 763,189 shares.
Sun Healthcare Group
Sun Healthcare Group (SUNH) is a health care services company, serving principally the senior population. This stock is trading up 7% to $4.24 in recent trading.
Today’s Range: $4.03-$4.25
52-Week Range: $2.06-$15.01
Three-Month Average Volume: 320,302
From a technical standpoint, SUNH is flirting with a major breakout trade today with the stock trading right under a key overhead resistance level. Traders should now watch for a sustained high-volume move or close over $4.26 to $4.49 to signal that SUNH wants to trend much higher.
If that breakout triggers on volume that’s above 320,302 shares, then SUNH has a great chance to fill a huge gap down in price from $7. That gap down is from last August, so look for SUNH to soar if $4.49 is taken out with volume.
Genetic Technologies (GENE) is engaged in a diagnostic product business. Genetic Technologies translates genetic tests into products and services. This stock is trading up 9.3% to $4.70 in recent trading.
Today’s Range: $4.55-$4.98
52-Week Range: $1.50-$10.75
Three-Month Average Volume: 43,705
From a technical standpoint, GENE has started to trigger a major breakout today since the stock is moving above some key overhead resistance levels at $4.20 and $4.60 on monster volume.
Market players should now look for GENE to make a run at its 200-day moving average of $5.34, as long as the stock closes near its daily highs today. If that $5.34 is then taken out with volume, look for $5.50 to $6 in the near future.
Biolase Technology (BLTI) is a medical technology company. Biolase Technology designs, manufactures and markets dental, cosmetic and surgical lasers and related products. This stock is trading up 13.7% to $3.24 in recent trading.
Today's Range: $3.08-$3.34
52-week Range: $2.14-$6.85
Three-Month Average Volume: 228,902
From a technical standpoint, BLTI has started to trigger a big breakout trade today now that this stock is clearing some near-term overhead resistance levels at $2.87 to $3.09 on strong volume. At last check, this stock hit $3.40 at the highs of the day, which is very close to the next big overheard resistance level of $3.51.
Traders should now watch for BLTI to sustain a high-volume move or close over $3.51 to signal that this stock wants to re-test its 200-day moving average of $3.80. Look for volume on a move over $3.51 that’s near or above 228,902 shares. Any move then over $3.81 and the last key overhead resistance levels around $3.89 should be considered very bullish for BLTI.
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.