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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.
>>Buy the Dips: This Bull Market's Not Over
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.Cardiome PharmaCardiome Pharma (
CRME), a biopharmaceutical company, discovers, develops and commercializes new therapies that improve the health of patients around the world. This stock closed up 6.5% to $6.64 in Tuesday's trading session.
Tuesday's Range: $6.20-$6.78
52-Week Range: $1.60-$7.15
Tuesday's Volume: 120,000
Three-Month Average Volume: 202,559
From a technical perspective, CRME ripped higher here right off some near-term support at $6 with lighter-than-average volume. This move is quickly pushing shares of CRME within range of triggering a big breakout trade. That trade will hit if CRME manages to take out Tuesday's high of $6.78 and then once it clears its 52-week high at $7.15 with high volume.
Traders should now look for long-biased trades in CRME as long as it's trending above some near-term support levels at $6 or at $5.85, and then once it sustains a move or close above those breakout levels with volume that hits near or above 202,559 shares. If that breakout hits soon, then CRME will set up to enter new 52-week-high territory, which is bullish technical price action. If that breakout hits, then CRME will have a chance to re-fill some of its previous gap down zone from March of 2012 that started near $10.