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 analyst upgrade.
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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Accuray(ARAY - Get Report) has developed a robotic radiosurgery system, CyberKnife Robotic Radiosurgery System, designed to treat solid tumors anywhere in the body as an alternative to traditional surgery. This stock is trading up 4% at $6.20 in recent trading.
Today's Range: $5.98-$6.26
52-Week Range: $3.50-$8.73
Three-Month Average Volume: 611,373
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Shares of ARAY are ripping higher today after the company announced it is on track to meet or exceed integration success metrics and expecting near-term return to profitability.
From a technical perspective, ARAY is bouncing sharply here off some near-term support at $5.90 with light volume. This move is quickly pushing ARAY within range of triggering a major
breakout trade. That trade will hit once ARAY takes out some near-term overheard resistance at $6.6, and then its 50-day at $6.69 with high volume.
Traders should now look for long-biased trades if ARAY can sustain a move or close above those levels with volume that's near or above 611,373 shares. If we get that action soon, then look for ARAY to tag its next major overhead resistance levels at $7.30 to $8.07. That $8.07 level can be achieved once $7.30 is taken out with volume. Traders should look for those near-term
support levels at $5.90 to $5.80 to hold up if this stock is going to make that run soon.