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5 Stocks Under $10 Making Big Moves

Stocks in this article: BODYDXSNAKMCHXMTG

Dynex

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Dynex ( DX) is a real estate investment trust that invests in mortgage loans and securities on a leveraged basis. This stock closed up 2.2% to $8.68 in Tuesday's trading session.

Tuesday's Range: $8.51-$8.69
52-Week Range: $7.71-$11.06
Thursday's Volume: 454,000
Three-Month Average Volume: 473,773

>>5 Rocket Stocks to Buy as Mr. Market Climbs

From a technical perspective, DX spiked notably higher here with decent upside volume. This stock has been uptrending strong for the last month, with shares moving higher from its low of $7.71 to its intraday high of $8.69. During that move, shares of DX have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of DX within range of triggering a major breakout trade. That trade will hit if DX manages to take out its 50-day moving average of $8.82 and then once it clears its gap down day high from July at $8.86 with high volume.

Traders should now look for long-biased trades in DX as long as it's trending above some near-term support at $8.25 and then once it sustains a move or close above those breakout levels with volume that hits near or above 473,773 shares. If we get that move soon, then DX will set up to re-fill some of its previous gap down zone from July that started just above $9.75. Any high-volume move above that level will then give DX a chance to tag its next major overhead resistance levels at $10.24 to $10.44.

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