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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
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.Southwest Airlines
(LUV - Get Report) is engaged as a major passenger airline that provides scheduled air transportation in the United States. The company mainly provides point-to-point, rather than hub-and-spoke, service. This stock is trading up 1.6% to $9.16 in recent trading.
Today's Range: $9.00-$9.20
52-Week Range: $7.37-$10.05
Volume: 2.96 million
Three-Month Average Volume: 6.60 million
From a technical perspective, LUV is moving modestly higher here as the stock bounces right off its 50-day moving average of $8.95 with light volume. This stock has been trending inside of a sideways trading pattern for the last three months, with shares moving between $8.68 on the downside and $9.52 on the upside. Shares of LUV are now moving within range of breaking out above the upper-end of that recent trading pattern.
Traders should now look for long-biased trades in LUV as long as it's trending above its 50-day at $8.95, and then once it sustains a move or close above some near-term overhead resistance levels at $9.20 to $9.52 with high volume. Look for volume on any move above those levels that hits near or above 6.60 million shares. If that breakout triggers soon, then LUV will set up to re-test or possibly take out its next major overhead resistance levels at $9.81 to $10.02. Any high-volume move above $10.02 will then put $10.50 to $11 into focus for shares of LUV.