4 Stocks Under $10 Making Big Moves
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 Tech Stocks to Trade for Gains This Week With that in mind, let's take a closer look at a several stocks under $10 that are making large moves to the upside. Synthesis Energy Systems (SYMX - Get Report), a development stage energy and gasification technology company, provides various proprietary gasification technology systems and solutions to the energy and chemical industries worldwide. This stock closed up 5.5% to $1.70 in Tuesday's trading session. Tuesday's Range: $1.62-$1.72
52-Week Range: $0.60-$2.49
Tuesday's Volume: 438,000
Three-Month Average Volume: 376,653 From a technical perspective, SYMX ripped higher here right above some near-term support at $1.61 and back above its 50-day moving average of $1.65 with above-average volume. This stock recently pulled back from its high of $1.95 to its recent low of $1.61. Shares of SYMX are now starting to rebound off that $1.61 low with decent upside volume flows. Market players should now look for a continuation move to the upside in the short-term if SYMX manages to take out Tuesday's intraday high of $1.72 to some more near-term overhead resistance at $1.80 with high volume. Traders should now look for long-biased trades in SYMX as long as it's trending above some near-term support levels at $1.61 or around $1.50 and then once it sustains a move or close above $1.72 to $1.80 with volume that hits near or above 376,653 shares. If that move kicks off soon, then SYMX will set up to re-test or possibly take out its next major overhead resistance levels at $1.90 to $1.95, or even $2.09. Any high-volume move above those levels will then give SYMX a chance to re-test or take out its 52-week high at $2.49.