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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.
>>Outwit the S&P in 2013 With 5 Hated Stocks
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.Goodrich Petroleum(GDP)
This is an independent oil and gas company engaged in the exploration, exploitation, development and production of oil and natural gas properties in East Texas and Northwest Louisiana. This stock is trading up 13.4% to $9.32 in recent trading.
Today's Range: $8.28-$9.51
52-Week Range: $7.77-$20.67
Volume: 1.37 million
Three-Month Average Volume: 924,334
From a technical perspective, GDP is soaring here right off some near-term support at $7.95 with above-average volume. This stock has been finding big buying interest for the last month, whenever the stock has traded just below $8. Shares of GDP are now quickly moving within range of triggering a near-term breakout trade. That trade will hit once GDP manages to take out some near-term overhead resistance levels at $9.65 to its 50-day at $10.40 with high volume.
Traders should now look for long-biased trades in GDP as long as it's trending above its 50-day at $8.64, and then once it sustains a move or close above those breakout levels with volume that hits near or above 924,334 shares. If that breakout hits soon, then GDP will set up to re-test or possibly take out its next major overhead resistance levels at $11.50 to $12.50.