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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
>>5 Stocks Ready to Break Out
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.>>5 Hated Earnings Stocks Poised to PopDynavax TechnologiesDynavax Technologies(DVAX - Get Report), a clinical-stage biopharmaceutical company, discovers and develops novel products to prevent and treat infectious diseases, asthma and inflammatory and autoimmune diseases. This stock closed up 9.2% to $2.13 on Tuesday.
Tuesday's Range: $1.91-$2.14
52-Week Range: $1.74-$5.34
Volume: 3.27 million
Three-Month Average Volume: 3.26 million
From a technical perspective, DVAX ripped higher here off oversold territory with above-average volume. This stock recently gapped down from around $3 to $1.87 with heavy downside volume. Shares of DVAX went on hit its recent low of $1.74 and the stock entered oversold territory, since its relative strength index reading went below 30. That said, shares of DVAX have now started to rebound off that $1.74 and shares are quickly approaching a major breakout trade. That trade will hit if DVAX manages to take out some near-term overhead resistance at $2.13 to $2.14 with high volume.
Traders should now look for long-biased trades in DVAX as long as it's trending above Tuesday's low of $1.91, and then once it sustains a move or close above those breakout levels with volume that hits near or above 3.26 million shares. If that breakout hits soon, then DVAX will set up to re-fill some of its previous gap down zone from late February that started near $3. Some possible upside targets if DVAX gets into that gap with volume are $2.70 to its 50-day moving average at $2.80.