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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.
>>5 Breakout Stock Plays: Must-See Charts
With that in mind, let's take a closer look at a
several biotech and pharma stocks under $10 that are making large moves to the upside today.Biocryst Pharmaceuticals(BCRX - Get Report)
This is a biotechnology company that designs, optimizes and develops novel drugs that block key enzymes involved in cancer, viral infections and autoimmune diseases. This stock is trading up 5% to $1.46 in recent trading.
Today's Range: $1.33-$1.63
52-Week Range: $1.08-$5.95
Three-Month Average Volume: 400,533
From a technical perspective, BCRX is bouncing notably higher here right around some near-term support at $1.25 with above-average volume. This move has briefly pushed BCRX into breakout territory, since the stock has challenged some near-term overhead resistance at $1.58. That move has also started to push BCRX into its gap down zone from a few weeks ago that started near $2.50. At last check, BCRX has hit an intraday high of $1.63 and volume is well above its three-month average action of 400,533 shares.
Traders should now look for long-biased trades in BCRX as long as it's trending above today's low of $1.33, and then once it sustains a move or close above some near-term overhead resistance at $1.58 to $1.63 with volume that hits near or above 400,533 shares. If we get that action, then BCRX will set up to re-fill some of that previous gap back towards $2.50.