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3 Stocks Under $5 Making Big Moves

Teekay Tankers

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Teekay Tankers (TNK - Get Report) is engaged in the international marine transportation of crude oil through the operation of its oil tankers. This stock is trading up 4.4% to $4.32 in recent trading.

Today's Range: $4.14-$4.32

52-Week Range: $3.36-$7.00

Volume: 715,000

Three-Month Average Volume: 793,697

From a technical perspective, TNK is trending higher here right off its 50-day moving average of $4.15 with decent volume. This move is quickly pushing TNK within range of triggering a major breakout trade. That trade will trigger once TNK takes out some near-term overhead resistance at $4.35 to $4.59 with high volume.

Traders should now look for long-biased trades in TNK if it can sustain a move or close above those levels with volume that's near or above 793,697 shares. Keep in mind that TNK's 200-day moving average also falls within that range at $4.45. If that breakout triggers soon, then TNK will have a great chance of re-testing or possibly taking out its next major overhead resistance levels at $5 to $5.50. Traders can also look for long-biased trades in TNK as long as it's trending above $4.02 with strong volume, and then simply anticipate that breakout.

To see more stocks under-$10 that are making notable moves higher today, check out the Stocks Under $10 Moving Higher portfolio on Stockpickr.

-- Written by Roberto Pedone in Winderemere, Fla.

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At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on stocks, options, futures, commodities and currencies. He is also an outside contributor to Beconequity.com and maintains the website Maddmoney.net, which he sold to Blue Wave Advisors in 2008. Roberto studied International Business at The Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany.

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SYM TRADE IT LAST %CHG
AERL $0.00 0.00%
PTNR $2.58 3.20%
TNK $6.36 1.11%
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