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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LDK Solar(LDK) is a vertically integrated manufacturer of Photovoltaic (PV) products. LDK Solar's products include Polysilicon, Solar Wafers, Solar Cells, Solar Modules and Solar Farm Projects. This stock is trading up 5% at $2.30 in recent trading.
Today's Range: $2.17-$2.32
52-Week Range: $1.54-$7.52
Volume: 1 million
Three-Month Average Volume: 1.6 million
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From a technical perspective, LDK is ripping higher here with decent volume. This move is quickly pushing the stock within range of triggering a near-term
breakout trade. That trade will hit once LDK takes out some near-term overhead resistance at $2.34, and then its 50-day
moving average of $2.61 with high-volume.
Traders should look for long-biased trades if LDK can sustain a move or close above those levels with volume that's near or above 1,598,050 shares. If we get that action soon, then LDK could easily re-test its next significant overhead resistance levels at $3.10 to $3.26, or possibly even its 200-day moving average of $3.92. Keep in mind that LDK is set to report earnings on June 26 before the open.