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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.General CommunicationGeneral Communication (
GNCMA) offers facilities-based wireless telephone services, data services, Internet access, video services and local and long-distance voice services to residential and business customers. This stock closed up 5.2% to $9.76 in Thursday's trading session.
Thursday's Range: $9.34-$9.83
52-Week Range: $7.67-$10.09
Thursday's Volume: 168,000
Three-Month Average Volume: 117,983
From a technical perspective, GNCMA trended sharply higher here back above its 50-day moving average of $9.59 with above-average volume. This move is quickly pushing shares of GNCMA within range of triggering a big breakout trade. That trade will hit if GNCMA manages to take out Thursday's high of $9.83 to its 52-week high at $10.09 with high volume.
Traders should now look for long-biased trades in GNCMA as long as it's trending above Thursday's low of $9.34 or above some more near-term support at $9.10, and then once it sustains a move or close above those breakout levels with volume that hits near or above 117,983 shares. If that breakout hits soon, then GNCMA will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are its next major overhead resistance levels at $10.43 to $11.40. Any high-volume move above $11.40 will then give GNCMA a chance to tag $12 to $12.50.