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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 Big Stock Charts You Need to See
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.Oclaro(OCLR - Get Report)
This company provides high-performance core optical network components, modules and subsystems to global telecommunications equipment manufacturers. This stock is trading up 5.8% to $1.82 in recent trading.
Today's Range: $1.70-$1.90
52-Week Range: $1.11-$5.10
Volume: 1.28 million
Three-Month Average Volume: 956,988
From a technical perspective, OCLR is bouncing higher here right off its 50-day moving average of $1.69 with above-average volume. This move is quickly pushing shares of OCLR within range of triggering a near-term breakout trade. That trade will hit if OCLR manages to take out some near-term overhead resistance levels at $1.75 to $1.85 with high volume. At last check, OCLR has hit an intraday high of $1.89 and volume is well above its three-month average action of 956,988 shares.
Traders should now look for long-biased trades in OCLR as long as it's trending above its 50-day at $1.69, and then once it sustains a move or close above those breakout levels with volume that hits near or above 956,988 shares. If that breakout triggers soon, then OCLR will set up to re-test or possibly take out its next major overhead resistance levels at $2.11 to $2.20.