3 Stocks Under $5 Making Big Moves
Teekay Tankers (TNK) 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-$4.3252-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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