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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.
>>5 Stocks Ready to Break Out This Month
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.SGOCO GroupSGOCO Group (
SGOC) is engaged in product design and brand development in the Chinese flat panel display market. This stock closed up 4.5% to $3.47 in Tuesday's trading session.
Tuesday's Range: $3.35-$3.48
52-Week Range: $0.70-$4.57
Tuesday's Volume: 13,000
Three-Month Average Volume: 286,692
From a technical perspective, SGOC ripped higher here right above its 50-day moving average of $3.22 with lighter-than-average volume. This move is quickly pushing shares of SGOC within range of triggering a big breakout trade. That trade will hit if SGOC manages to take out some near-term overhead resistance levels at $3.61 to $3.74 and $3.84 with high volume.
Traders should now look for long-biased trades in SGOC as long as it's trending above its 50-day at $3.22 or above more support at $3 and then once it sustains a move or close above those breakout levels with volume that hits near or above 286,692 shares. If that breakout triggers soon, then SGOC will set up to re-test or possibly take out its 52-week high at $4.57. Any high-volume move above $4.57 to $4.74 will then give SGOC a chance to tag $5 to $5.50.