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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 Poised for Breakouts
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 Rocket Stocks to Buy as Stocks BounceMitek SystemsMitek Systems (
MITK) is engaged in the development, sale and service of its proprietary software solutions related to mobile imaging applications and intelligent recognition software. This stock is trading up 3.5% to $5.57 in recent trading.
Today's Range: $5.36-$5.60
52-Week Range: $1.96-$5.76
Three-Month Average Volume: 390,013
Shares of MITK are ripping higher today after the company said its signature verification fraud detection process received a U.S. patent.
>>5 Trading Setups With Upside This Week
From a technical perspective, MITK is ripping higher here right above its 50-day moving average of $4.78 with decent upside volume. This move is quickly pushing shares of MITK within range of triggering a major breakout trade. That trade will hit if MITK manages to take out some near-term overhead resistance levels at $5.60 to $5.76 with high volume.
Traders should now look for long-biased trades in MITK as long as it's trending above its 50-day at $4.78, and then once it sustains a move or close above those breakout levels with volume that hits near or above 390,013 shares. If that breakout triggers soon, then MITK will set up to re-test or possibly take out its next major overhead resistance levels at $7 to $8.