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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 Big Stock Charts You Need to See
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.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 4.3% to $1.68 in recent trading.
Today's Range: $1.62-$1.79
52-Week Range: $1.08-$5.95
Three-Month Average Volume: 645,034
From a technical perspective, BCRX is starting to flirt with its 50-day moving average of $1.69 here with decent volume. This stock has been uptrending for the last month, with shares moving higher from its low of $1.33 to its recent high of $1.79. During that move, shares of BCRX have been consistently making higher lows and higher highs, which is bullish technical price action. That move is quickly pushing BCRX within range of triggering a major breakout trade. That trade will hit if BCRX manages to clear some near-term overhead resistance levels at its 50-day of $1.69 and then more overhead resistance at $1.75 with high volume.
Traders should now look for long-biased trades in BCRX as long as it's trending above some near-term support at $1.57 to $1.50, and then once it sustains a move or close above those breakout levels with volume that hits near or above 645,034 shares. If that breakout triggers soon, then BCRX will set up to re-test or possibly take out its next major overhead resistance at $2.88.