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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.Fortress Investment Group Fortress Investment Group (
FIG) operates as a global alternative asset manager, which raises, invests and manages private equity funds and hedge funds. This stock closed up 3.7% to $7.95 in Thursday's trading session.
Thursday's Range: $7.70-$8.00
52-Week Range: $3.73-$8.19
Thursday's Volume: 802,000
Three-Month Average Volume: 903,322
From a technical perspective, FIG trended higher here right off its 50-day moving average of $7.64 with decent upside volume. This stock has been uptrending strong for the last three months, with shares moving higher from its low of $6.22 to its recent high of $8.19. During that move, shares of FIG have been mostly making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of FIG within range of triggering a major breakout trade. That trade will hit if FIG manages to take out Thursday's high of $8 and then once it clears its 52-week high at $8.19 with high volume.
Traders should now look for long-biased trades in FIG as long as it's trending above its 50-day at $7.64 or above more near-term support at $7.59 or $7.40, and then once it sustains a move or close above those breakout levels with volume that hits near or above 903,322 shares. If that breakout triggers soon, then FIG will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $10 to $12.