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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
>>5 Stocks Under $10 Set to Soar
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.
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.>>5 Stocks Fund Managers Love for 2013SyntroleumSyntroleum(SYNM) is in the commercialization of its technology to produce synthetic liquid hydrocarbons with reduced levels of contaminants normally found in conventional hydrocarbon products. This stock closed up 5.4% to $4.45 on Thursday.
Thursday's Range: $4.20-$4.69
52-Week Range: $3.30-$10.50
Three-Month Average Volume: 49,000
From a technical perspective, SYNM trended higher here back above its 50-day moving average of $4.25 with above-average volume. This move has started to push shares of SYNM into breakout territory, since the stock took out some near-term overhead resistance levels at $4.29 to $4.40. Shares of SYNM are now quickly moving within range of triggering another near-term breakout trade. That trade will hit if SYNM manages to take out some near-term overhead resistance at $4.80 with high volume.
Traders should now look for long-biased trades in SYNM as long as it's trending above its 50-day at $4.25 and then once it sustains a move or close above $4.40 to $4.80 with volume that hits near or above 49,000 shares. If that breakout triggers soon, then SYNM will set up to re-test or possibly take out its next major overhead resistance levels at its 200-day of $5.63 or at $5.90.