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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.
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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.NeoPhotonicsNeoPhotonics (
NPTN) is a designer and manufacturer of PIC-based modules and subsystems for bandwidth-intensive, high-speed communications networks. This stock closed up 3.5% to $7.54 in Tuesday's trading session.
Tuesday's Range: $7.32-$7.57
52-Week Range: $4.75-$9.77
Tuesday's Volume: 69,000
Three-Month Average Volume: 124,923
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From a technical perspective, NPTN trended higher here right above its 50-day moving average of $7.19 with lighter-than-average volume. This stock has been uptrending strong for the last three months, with shares moving higher from its low of $6.20 to its recent high of $7.98. During that uptrend, shares of NPTN have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of NPTN within range of triggering a major breakout trade. That trade will hit if NPTN manages to take out Tuesday's high of $7.57 to some near-term overhead resistance at $7.98 with high volume.
Traders should now look for long-biased trades in NPTN as long as it's trending above its 50-day at $7.19 or above $7 and then once it sustains a move or close above those breakout levels with volume that's near or above 124,923 shares. If that breakout hits soon, then NPTN will set up to re-test or possibly take out its next major overhead resistance levels at $9 to $10.