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.>>5 Rocket Stocks to Buy for June Gains With that in mind, let's take a closer look at a several stocks under $10 that are making large moves to the upside. Prana Biotechnology (PRAN) researches and develops therapeutic drugs for the treatment of neurological disorders in Australia. This stock closed up 6.8% to $2.03 in Tuesdays trading session. Tuesday's Range: $1.88-$2.05
52-Week Range: $1.47-$13.29
Tuesday's Volume: 1.46 million
Three-Month Average Volume: 1.97 million From a technical perspective, PRAN spiked sharply higher here closed just above its 50-day moving average of $2.02 with decent upside volume. This sharp spike higher on Tuesday is quickly pushing shares of PRAN within range of triggering a major breakout trade. That trade will hit if PRAN manages to take out Tuesday's intraday high of $2.05 to some more key overhead resistance at $2.24 with high volume. Traders should now look for long-biased trades in PRAN as long as it's trending above Tuesday's low of $1.88 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.97 million shares. If that breakout kicks off soon, then PRAN will set up to re-test or possibly take out its next major overhead resistance level at $2.47. Any high-volume move above $2.47 will then give PRAN a chance to re-test or take out its gap-down-day high from March that started at $3.24.
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