DELAFIELD, Wis. (Stockpickr) -- At Stockpickr, we track daily portfolios of stocks that are the biggest percentage gainers and the biggest percentage losers.
Must Read: Sell These 5 Toxic Stocks Before the Next Drop
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.
With that in mind, let's take a closer look at a several stocks under $10 that are making large moves to the upside.
Must Read: How to Trade the Market's Most-Active Stocks
10 Best Railroad Stocks To Own For 2015
Regado Biosciences
Regado Biosciences (RGDO), a biopharmaceutical company, focuses on the discovery and development of antithrombotic drug systems for acute and sub-acute cardiovascular and other indications. This stock closed up 15.6% to $1.18 in Thursday's trading session.
Thursday's Range: $1.01-$1.20
52-Week Range: $0.96-$14.10
Thursday's Volume: 1.87 million
Three-Month Average Volume: 877,275
From a technical perspective, RGDO ripped sharply higher here right above its new 52-week low of 96 cents per share with heavy upside volume. This strong move to the upside on Thursday is quickly pushing shares of RGDO within range of triggering a big breakout trade. That trade will hit if RGDO manages to take out Thursday's intraday high of $1.20 and then once it clears more near-term overhead resistance at $1.25 with high volume.
Traders should now look for long-biased trades in RGDO as long as it's trending above its 52-week low of 96 cents per share and then once it sustains a move or close above those breakout levels with volume that hits near or above 877,275 shares. If that breakout hits soon, then RGDO will set up to re-test or possibly take out its next major overhead resistance level at its gap-down-day high from late August at $1.44. Any high-volume move above that level will then give RGDO a chance to re-fill some of that gap that started near $3.
Must Read: 5 Stocks Insiders Love Right Now
Biota Pharmaceuticals
Biota Pharmaceuticals (BOTA), a biopharmaceutical company, focuses on the discovery and development of anti-infective products in Australia. This stock closed up 6.6% to $2.33 in Thursday's trading session.
Thursday's Range: $2.15-$2.49
52-Week Range: $2.10-$7.07
Thursday's Volume: 130,000
Three-Month Average Volume: 88,319
From a technical perspective, BOTA ripped higher here right above its new 52-week low of $2.10 with above-average volume. This sharp spike to the upside on Thursday is starting to push shares of BOTA within range of triggering a big breakout trade. That trade will hit if BOTA manages to take out its 50-day moving average of $2.52 to some more near-term overhead resistance at $2.61 with high volume.
Traders should now look for long-biased trades in BOTA as long as it's trending above its 52-week low of $2.10 and then once it sustains a move or close above those breakout levels with volume that hits near or above 88,319 shares. If that breakout gets started soon, then BOTA will set up to re-fill some of its previous gap-down-day zone from earlier August that started right around $3.25.
Must Read: 5 Hated Earnings Stocks You Should Love
Merrimack Pharmaceuticals
Merrimack Pharmaceuticals (MACK), a biopharmaceutical company, is engaged in discovering, developing and preparing to commercialize medicines paired with companion diagnostics for the treatment of cancer primarily in the U.S. This stock closed up 7.3% to $7.87 a share in Thursday's trading session.
Thursday's Range: $7.05-$7.91
52-Week Range: $2.05-$8.41
Thursday's Volume: 5.74 million
Three-Month Average Volume: 1.50 million
From a technical perspective, MACK ripped sharply higher here right above some near-term support at $6.97 and right above its 50-day moving average of $6.66 with monster upside volume flows. This strong spike to the upside on Thursday is starting to push shares of MACK within range of triggering a big breakout trade. That trade will hit if MACK manages to take out Thursday's intraday high of $7.90 to its 52-week high at $8.41 with high volume.
Traders should now look for long-biased trades in MACK as long as it's trending above Thursday's intraday low of $7.05 or above its 50-day at $6.66 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.50 million shares. If that breakout materializes soon, then MACK will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $10 to its all-time high at $11.11.
Must Read: Must-See Charts: 5 Big Stocks to Sidestep the Selloff
To see more stocks that are making notable moves higher, check out the Stocks Under $10 Moving Higher portfolio on Stockpickr.
-- Written by Roberto Pedone in Delafield, Wis.
RELATED LINKS:
>>4 Stocks Spiking on Big Volume
>>4 M&A Deal Stocks That Could Cut You a Paycheck This Fall
>>5 Short-Squeeze Stocks Set to Soar on Bullish Earnings
Follow Stockpickr on Twitter and become a fan on Facebook.
At the time of publication, author had no positions in stocks mentioned.
Roberto Pedone, based out of Delafield, Wis., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including
CNBC.com and Forbes.com.You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.
No comments:
Post a Comment