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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.Ambit BiosciencesAmbit Biosciences (
AMBI) is a development-stage oncology company engaged in the clinical development of novel small molecules for the treatment of cancer. This stock closed up 7.6% to $8.45 in Thursday's trading session.
Thursday's Range: $7.91-$8.79
52-Week Range: $6.22-$21.44
Thursday's Volume: 650,000
Three-Month Average Volume: 93,875
From a technical perspective, AMBI spiked sharply higher here right above some near-term support at $7.77 with heavy upside volume. This stock recently gapped down sharply from $13 to $8 with monster downside volume. Following that gap down, shares of AMBI have trended sideways and tag a recent low of $7.77. Shares of AMBI are now starting to spike higher off that low and it's quickly moving within range of triggering a major breakout trade. That trade will hit if AMBI manages to take out some near-term overhead resistance levels at $9 to its gap down day high of $9.52 with high volume.
Traders should now look for long-biased trades in AMBI as long as it's trending above Thursday's low of $7.91 or above its recent low of $7.77, and then once it sustains a move or close above those breakout levels with volume that hits near or above 93,875 shares. If that breakout triggers soon, then AMBI will set up to re-fill some of its previous gap down zone that started at $13. Some possible upside targets if AMBI gets into that gap with volume are $11 to $11.50.