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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.
>>5 Rocket Stocks to Buy This Week
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.City Telecom(CTEL)
This company is a Hong Kong-based provider of residential and corporate fixed telecommunications network and international telecommunications services. This stock closed up 6.7% to $4.75 in recent trading.
Today's Range: $4.55-$4.75
52-Week Range: $3.64-$13.86
Three-Month Average Volume: 127,794
From a technical perspective, CTEL ripped higher back above its 50-day moving average of $4.61 with above-average volume. This move is quickly pushing CTEL within range of triggering a near-term breakout trade. That trade will hit once CTEL manages to take out some near-term overhead resistance levels at $4.79 to $4.86 with high volume.
Traders should now look for long-biased trades in CTEL as long as it's trending above its 50-day at $4.61, and then once it sustains a move or close above those breakout levels with volume that hits near or above 127,794 shares. If that breakout triggers soon, then CTEL will set up to re-test or possibly take out its next major overhead resistance level at $5.63. Any high-volume move above $5.63 with then give CTEL a chance to re-fill some of its previous gap down zone from July that started around $10.