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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.BioMimetic Therapeutics(BMTI)
This company develops and commercializes innovative products to help stimulate the body's natural tissue regenerative process. This stock closed up 5.1% to $4.05 in recent trading.
Today's Range: $3.86-$4.18
52-Week Range: $1.87-$4.83
Three-Month Average Volume: 73,624
From a technical perspective, BMTI trended up today right off some near-term support at $3.80 with light volume. This move is quickly pushing BMTI within range of triggering a near-term breakout trade. That trade will hit once BMTI manages to clear its 50-day at $4.13 and then some more overhead resistance at $4.19 with high volume.
Traders should now look for long-biased trades in BMTI as long as it's trending above today's low of $3.86, and then once it sustains a move or close above those breakout levels with volume that hits near or above 73,624 shares. If that breakout triggers soon, then look for BMTI to re-test or possibly take out its next major overhead resistance levels at $4.53 to $4.83. Any high-volume move above those levels will then put $5 to $6 into focus for BMTI.