This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
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.pSivida(PSDV - Get Report)
This company develops tiny, sustained-release, drug delivery products designed to deliver drugs at a controlled and steady rate for months or years. This stock closed up 6.6% to $4.04 in Thursday's trading session.
Thursday's Range: $3.78-$4.12
52-Week Range: $1.17-$4.12
Thursday's Volume: 785,000
Three-Month Average Volume: 180,467
From a technical perspective, PSDV ripped higher here and broke out above some near-term overhead resistance at $3.83 with heavy upside volume. This stock also flirted with another breakout above its former 52-week high at $4.08, before it closed just below that level at $4.12. This stock has been uptrending strong for the last month, with shares moving higher from its low of $3.15 to its intraday high of $4.12. During that move, shares of PSDV have been consistently making higher lows and higher highs, which is bullish technical price action.
Traders should now look for long-biased trades in PSDV as long as it's trending above support at $3.80 or above its 50-day at $3.59, and then once it sustains a move or close above Thursday's high of $4.12 with volume that hits near or above 180,467 shares. If we get that move soon, then PSDV will set up to enter new 52-week high territory, which is bullish technical price action. Some possible upside targets off that move are its next major overhead resistance levels at $4.81 to $5.23. Any high-volume move above those levels could easily send PSDV towards $6.