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8 Stocks Under $10 Soaring Higher - 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 upgrade.
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.
Let's take a closer look at several stocks under-$10 that are making large % moves to the upside today.
Avalon Rare Metals
Avalon Rare Metals (AVL) is a Canada-based mineral exploration and development company. Avalon’s primary focus is on rare metals and minerals, including tin, lithium, tantalum, niobium, cesium, indium, gallium, zirconium and calcium feldspar. This stock is trading up 8.9% at $3.29 in recent trading.
Today’s Range: $3.07-$3.40
52-Week Range: $2.99-$10.11
Volume: 4.5 million
Three-Month Average Volume: 1.1 million
Market players should keep an eye on AVL for a breakout trade if this stock can manage to clear some near-term overhead resistance levels at $3.29 and then $3.38 with volume. Look for volume that’s near or well above 1.1 million shares.
At last check, the stock hit $3.40 today, so watch for AVL to close near that level or above it. If we get that action soon, then look for AVL to make a run at its next significant overhead resistance level of $3.91 or possibly much higher.
China GengSheng Minerals
China GengSheng Minerals (CHGS) develops, manufactures and markets a range of industrial material products, including monolithic refractories, industrial ceramics, fracture proppants and fine precision abrasives. This stock is trading up 4.8% at $1.09 in recent trading.
Today’s Range: $1.05-$1.15
52-Week Range: $0.63-$4.25
Three-Month Average Volume: 125,118
From a technical standpoint, CHGS is trading very close to triggering a major breakout here if the stock can manage to move above $1.19. At last check, the stock hit a daily high today of $1.15, and the volume is well above its average action.
Market players should now look to play the breakout if CHGS clears $1.19 soon. A high-volume move above that level should set this stock up for a run towards its 200-day moving average of $1.45, or possibly much higher.
Array BioPharma (ARRY) is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule drugs to treat patients afflicted with cancer and inflammatory diseases. This stock is trading up 12.5% at $2.70 in recent trading.
Today’s Range: $2.54-$2.70
52-Week Range: $1.58-$3.41
Three-Month Average Volume: 302,574
From a technical standpoint, ARRY is gapping up strong today on monster volume and is triggering a breakout above some near-term overhead resistance at $2.54.
Market players should now watch for the next breakout trade to trigger once ARRY takes out $2.87 to $2.98 with volume. Look for volume on any move above those levels that’s near or above 302,574 shares.
If we get that action soon, then look for ARRY to make a run at $3.20 to $3.40.
I included Array in a list earlier this month of Stocks Under $10 Setting Up to Trade Higher.
Zagg (ZAGG) designs, manufactures and distributes protective coverings, audio accessories and power solutions for consumer electronic and hand-held devices under the brand names invisibleSHIELD, ZAGGaudio, and ZAGGskins. This stock is trading up 11.6% at $9.95 in recent trading.
Today’s Range: $8.98-$9.85
52-Week Range: $6.23-$17.10
Volume: 2 million
Three-Month Average Volume: 1.1 million
From a technical standpoint, ZAGG has started to spike big today back above its 50-day moving average of $9.25 on heavy volume. The stock has also started to break out above some near-term overhead resistance at $9.68.
Traders should continue to look for long biased trades in ZAGG as long as the sock can close above the 50-day and that $9.68 level. Target a run back toward its 200-day moving average of $11.58 if we get a strong close.
Charles & Colvard
Charles & Colvard (CTHR) manufactures, markets and distributes jewels and finished jewelry featuring moissanite for sale in the worldwide jewelry market. This stock is trading up 15.2% to $3.19 in recent trading.
Today’s Range: $2.91-$3.28
52-Week Range: $1.58-$3.99
Three-Month Average Volume: 24,942
Shares of CTHR are soaring today after the company said fourth-quarter preliminary net sales increased more than 90% versus the same period last year.
From a technical standpoint, CTHR has started to trigger a major breakout today now that this stock has moved above some near-term overhead resistance levels at $2.75 to $2.85 on monster volume.
Market players should now look for long biased trades as long as CTHR can close near its daily highs. The next significant overhead resistance level is $3.78 and then $3.99, so look for those levels to get tagged soon as long as CTHR continues to trend above $2.85.
Zoom Technologies (ZOOM) is engaged in design, production, marketing, sales, and support of broadband and dial-up modems, voice over Internet Protocol or (VoIP) products and services, Bluetooth wireless products, and other communication-related products. This stock is trading up 3.9% to $1.33 in recent trading.
Today’s Range: $1.29-$1.40
52-Week Range: $0.740-$5.08
Three-Month Average Volume: 322,019
From a technical standpoint, ZOOM is trading right up against some key near-term breakout levels today on decent volume. Market players should keep an eye on ZOOM for a breakout trade if the stock can manage to sustain a high-volume move and close above $1.29 to $1.35.
Look for volume if we get that move that’s near or above 322,019 shares. Target a run back towards $1.69 or potentially its 200-day average of $2.09 if that breakout gets triggered in the near future.
Axcelis Technologies (ACLS) designs, manufactures and services ion implantation, dry strip and other processing equipment used in the fabrication of semiconductor chips. This stock is trading up 5.8% to $1.82 in recent trading.
Today’s Range: $1.72-$1.87
52-Week Range: $1.00-$3.65
Three-Month Average Volume: 779,242
From a technical standpoint, ACLS is spiking sharply higher today right near some previous support levels at $1.71 on decent volume. Market players should now watch for a big breakout to trigger for ACLS if this stock can manage to clear some past overhead resistance at $2.04 to $2.07 with volume.
Look for volume on a move above those levels that’s near or well above 779,242 shares. If we get that action, then ACLS has a great chance to trade up towards its next significant overhead resistance levels at $2.59 to $2.69, or possibly even higher.
Vonage Holdings (VG) is a provider of communication services connecting people through broadband devices worldwide. This stock is trading up 6.2% to $2.55 in recent trading.
Today’s Range: $2.39-$2.55
52-Week Range: $2.04-$5.39
Volume: 1.77 million
Three-Month Average Volume: 1.76 million
From a technical standpoint, VG has started to bounce big today right off its 50-day moving average of $2.40 on decent volume. This stock has also just started to trigger a breakout trade now that it’s moving above some near-term overhead resistance at $2.51.
Traders should continue to look for long biased trades in VG as long as the stock closes above the 50-day and above $2.51. The next breakout trade will trigger on a move over $2.60 to $2.69 with volume. Look for volume that’s near or well above 1.76 million shares.
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.