3 Stocks Under $10 Making Big Moves
Prospect Global Resources
Prospect Global Resources (PGRX) is an exploration stage company engaged in the exploration and mining of potash in the Holbrook Basin of eastern Arizona. This stock closed up 13.8% to $1.56 in recent trading.
Today's Range: $1.38-$1.56
52-Week Range: $1.61-$10.50 Volume: 430,000 Three-Month Average Volume: 225,912 From a technical perspective, PGRX soared higher Wednesday back above its 50-day moving average of $1.50 with above-average volume. This move is pushing shares of PGRX within range of triggering a near-term breakout trade. That trade will hit if PGRX manages to take out some near-term overhead resistance levels at $1.59 to $1.84 with high volume. Traders should now look for long-biased trades in PGRX as long as it's trending its 50-day at $1.50 and then once it sustains a move or close above those breakout levels with volume that hits near or above 225,912 shares. If that breakout triggers soon, then PGRX will set up to re-test or possibly take out its next major overhead resistance levels at $2 to $2.25. Any high-volume move above $2.25 will then put $2.50 to $3 into range for shares of PGRX. To see more stocks 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.Follow Stockpickr on Twitter and become a fan on Facebook.
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