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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.
>>5 Stocks With Big Insider Buying
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.On Track InnovationsOn Track Innovations (
OTIV) designs, develops and markets turnkey and OEM solutions based on its secure contactless microprocessor-based smart card technology. This stock closed up 11.1% to $1.70 in Thursday's trading session.
Thursday's Range: $1.55-$1.72
52-Week Range: $0.80-$1.98
Thursday's Volume: 656,000
Three-Month Average Volume: 139,154
From a technical perspective, OTIV skyrocketed higher here right above some near-term support at $1.48, and back above its 50-day moving average of $1.65 with heavy upside volume. This stock has been downtrending over the last month and change, with shares falling from its high of $1.88 to its recent low of $1.48. During that move, shares of OTIV have been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of OTIV have now broken out of that downtrend, and its downside volatility looks over in the short-term.
Traders should now look for long-biased trades in OTIV as long as it's trending above Thursday's low of $1.55 and then once it sustains a move or close above Thursday's high of $1.72 to more resistance at $1.74 with volume that hits near or above 139,154 shares. If we get that move soon, then OTIV will set up to re-test or possibly take out its next major overhead resistance levels at $1.88 to its 52-week high at $1.98. Any high-volume move above those levels will then give OTIV a chance to trend well north of $2.