For traders with a short-term time horizon who are looking for big moves over a short period, we have updated our list of the S&P 1500 stocks trading above $10 that have the largest intraday high-low ranges (based on the average percent spread between the intraday high and low over the last 50 days). The stocks are grouped based on whether they have a rising or falling 50-day moving average (DMA). Stocks highlighted in gray are new to the list this month.
With US equities rallying now for their fifth straight week, we have seen a big shift in the number of stocks listed with rising 50-DMAs. In our mid-February update, of the 50 stocks highlighted just three had rising 50-days. In this month’s update, though, the percentage of stocks in short-term uptrends is up to 27! One thing that has increased, however, is the volatility. Last month, just two stocks in the S&P 1500 trading above $10 per share had an average daily move of more than 10%. Today there are ten. The most volatile stock listed is Unit (UNT), which just barely made the list because of its share price, but with an average intraday move of 15.8%, there is no shortage of volatility in the name.
In terms of sector representation, Energy dominates the list of stocks in uptrends (12) and downtrends (12) for a total of 24. That’s nearly half the list! Behind Energy, no other sector even accounts for ten stocks on the list. In fact, Health Care (9) and Materials (6) are the only other sectors with even more than two stocks listed.