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 analyst downgrade.
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.
Must Read: 3 Stocks Under $10 Making Big Moves
With that in mind, let's take a closer look at a several stocks under $10 that are making large moves to the upside.
Thursday's Range: $7.77-$8.18
52-Week Range: $7.07-$26
Thursday's Volume: 6.13 million
Three-Month Average Volume: 6.85 million
From a technical perspective, WLT spiked higher here with decent upside volume. This stock has been downtrending badly for the last six months, with shares falling sharply from over $18 to its recent low of $7.07. During that downtrend, shares of WLT have been making mostly lower highs and lower lows, which is bearish technical price action. That said, shares of WLT have started to rebound higher off that $7.07 low and it's now quickly moving within range of triggering a big breakout trade. That trade will hit if WLT manages to take out some near-term overhead resistance at $8.14 to Thursday's high of $8.18 with strong volume.
Traders should now look for long-biased trades in WLT as long as its trending above its 52-week low of $7.07 and then once it sustains a move or close above those breakout levels with volume that hits near or above 6.85 million shares. If that breakout kicks off soon, then WLT will set up to re-fill some of its previous gap-down-day zone from March that started near $9.50. If that gap gets filled with volume, then WLT could easily tag $11.