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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 Toxic Stocks You Need to Sell
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 That Deserve Your LoveMolycorp
Rare earth company
Molycorp(MCP) is trading up 3.6% to $5.37 in recent trading.
Today's Range: $5.05-$5.55
52-Week Range: $4.70-$28.89
Volume: 5.09 million
Three-Month Average Volume: 7.93 million
From a technical perspective, MCP is trending higher here right above its recent 52-week low of $4.70 with decent upside volume. This stock has been downtrending badly for the last four months, with shares plunging from its high of $11.81 to its 52-week low of $4.70. During that move, shares of MCP have been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of MCP are starting to bounce off that $4.70 low and move within range of triggering a near-term breakout trade. That trade will hit if MCP manages to take out some near-term overhead resistance levels at $5.832 to its 50-day at $5.93 with high volume.
Traders should now look for long-biased trades in MCP as long as it's trending above $5, and then once it sustains a move or close above those breakout levels with volume that hits near or above 7.93 million shares. If that breakout triggers soon, then MCP will set up to re-test or possibly take out its next major overhead resistance levels at $6.55 to $6.61. Any high-volume move above those levels will then put $7.50 to $8.20 into range for shares of MCP.