DELAFIELD, Wis. (Stockpickr) -- At Stockpickr, we track daily portfolios of stocks that are the biggest percentage gainers and the biggest percentage losers.
>>5 Stocks Under $10 Set to Soar
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 Stocks Insiders Love Right Now
With that in mind, let's take a closer look at a several stocks under $10 that are making large moves to the upside today.
Medical Action Industries
Medical Action Industries (MDCI) develops, manufactures, markets and supplies a variety of disposable medical products. This stock closed up 5.2% to $7.49 a share in Thursday's trading session.
Thursday's Range: $7.09-$7.50
52-Week Range: $2.53-$10.07
Thursday's Volume: 111,000
Three-Month Average Volume: 77,869
From a technical perspective, MDCI ripped higher here and broke out above some near-term overhead resistance at $7.23 with above-average volume. This stock has been uptrending strong for the last two months and change, with shares soaring higher from its low of $5.04 to its intraday high of $7.50. During that move, shares of MDCI have been making mostly higher lows and higher highs, which is bullish technical price action. Market players should now look for a continuation move higher in the short-term if MDCI can manage to take out Thursday's high of $7.50 with strong volume.
Traders should now look for long-biased trades in MDCI as long as it's trending above its 200-day at $6.84 and then once it sustains a move or close above $7.50 with volume that hits near or above 77,869 shares. If we get that move soon, then MDCI will set up to re-test or possibly take out its next major overhead resistance levels at $9 to $9.50.
BioScrip
BioScrip (BIOS) is a provider of pharmacy and home health services that partners with patients, physicians, hospitals, healthcare payors and pharmaceutical manufacturers. This stock closed up 3% to $6.03 in Thursday's trading session.
Thursday's Range: $5.85-$6.14
52-Week Range: $5.61-$17.62
Thursday's Volume: 1.11 million
Three-Month Average Volume: 1.62 million
From a technical perspective, BIOS spiked notably higher here with decent upside volume. This move is quickly pushing shares of BIOS within range of triggering big breakout trade. That trade will hit if BIOS manages to take out Thursday's high of $6.14 to more near-term resistance at $6.30 with high volume.
Traders should now look for long-biased trades in BIOS as long as it's trending above Thursday's low of $5.85 or above more support at $5.61 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.62 million shares. If that breakout hits soon, then BIOS will set up to re-fill some of its previous gap down zone from this month that started at $7.27.
Skilled Healthcare Group
Skilled Healthcare Group (SKH) is a provider of integrated long-term health care services through its skilled nursing companies and rehabilitation therapy business. This stock closed up 3.5% to $4.96 in Thursday's trading session.
Thursday's Range: $4.70-$4.99
52-Week Range: $4.10-$7.51
Thursday's Volume: 78,000
Three-Month Average Volume: 150,666
From a technical perspective, SKH spiked higher here right above its 50-day moving average of $4.46 with lighter-than-average volume. This move is quickly pushing shares of SKH within range of triggering a big breakout trade. That trade will hit if SKH manages to take out Thursday's high of $4.99 to some more near-term overhead resistance at $5.10 with high volume.
Traders should now look for long-biased trades in SKH as long as it's trending above Thursday's low of $4.70 or above its 50-day at $4.46 and then once it sustains a move or close above those breakout levels with volume that hits near or above 150,666 shares. If that breakout triggers soon, then SKH will set up to re-test or possibly take out its next major overhead resistance levels at its 200-day moving average of $5.76 to $6.25.
To see more stocks that are making notable moves higher today, check out the Stocks Under $10 Moving Higher portfolio on Stockpickr.
-- Written by Roberto Pedone in Delafield, Wis.
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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.
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