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 Big Stocks to Trade for Gains This Summer With that in mind, let's take a closer look at a several stocks under $10 that are making large moves to the upside. Genie Energy (GNE - Get Report), through its subsidiary, supplies electricity and natural gas to residential and small business customers primarily in the Eastern U.S. This stock closed up 4.2% to $7.42 in Thursday's trading session. Thursday's Range: $7.15-$7.65
52-Week Range: $6.76-$17.80
Thursday's Volume: 63,000
Three-Month Average Volume: 110,995 From a technical perspective, GNE spiked higher here right above some near-term support at $7.01 with lighter-than-average volume. This spike took place right above a double bottom support zone for GNE at $7 to $7.01, and this stock took out its 50-day moving average of $7.41. This move is quickly pushing shares of GNE within range of triggering a big breakout trade. That trade will hit if GNE manages to take out Thursday's intraday high of $7.65 to some more key overhead resistance at $8.05 with high volume. Traders should now look for long-biased trades in GNE as long as it's trending above those double bottom support zones and then once it sustains a move or close above those breakout levels with volume that hits near or above 110,995 shares. If that breakout hits soon, then GNE will set up to re-test or possibly take out its next major overhead resistance levels at $9 to its 200-day moving average at $9.67.
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