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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.
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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.ION GeophysicalION Geophysical (
IO) is a technology-focused seismic solutions company that provides advanced seismic data acquisition equipment, seismic software and seismic planning, processing and interpretation services to the global energy industry. This stock closed up 1.7% to $5.35 in Tuesday's trading session.
Tuesday's Range: $5.22-$5.38
52-Week Range: $4.59-$7.70
Thursday's Volume: 1.14 million
Three-Month Average Volume: 1.12 million
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From a technical perspective, IO rose modestly higher here right of some near-term support at $5.20 with above-average volume. This stock recently gapped up sharply from around $4.80 to $5.52 with strong upside volume. Following that move, shares of IO pulled back to $5.20 and the stock has now started to trend into its 50-day moving average of $5.36. That move is quickly pushing shares of IO within range of triggering a near-term breakout trade. That trade will hit if IO manages to take out some near-term overhead resistance levels at Tuesday's high of $5.38 to more resistance at $5.52 with high volume.
Traders should now look for long-biased trades in IO as long as it's trending above $5.20 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.12 million shares. If that breakout triggers soon, then IO will set up to re-test or possibly take out its next major overhead resistance levels at $6 to its 200-day moving average at $6.20. Any high-volume move above $6.20 will then put $6.50 to $6.70 into range for shares of IO.