DELAFIELD, Wis. (Stockpickr) -- At Stockpickr, we track daily portfolios of stocks that are the biggest percentage gainers and the biggest percentage losers.
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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.
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With that in mind, let's take a closer look at a several stocks under $10 that are making large moves to the upside.
Highpower International
Highpower International (HPJ) manufactures and trades nickel metal hydride rechargeable batteries for portable electronic devices. This stock closed up 1.6% to $4.40 in Thursday's trading session.
Thursday's Range: $4.26-$4.49
52-Week Range: $0.98-$7.73
Thursday's Volume: 99,000
Three-Month Average Volume: 538,345
From a technical perspective, HPJ trended modestly higher here right above some near-term support at $4.13 with lighter-than-average volume. This stock has been uptrending for the last month, with shares moving higher from its low of $3.14 to its recent high of $4.74. During that uptrend, shares of HPJ have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of HPJ within range of triggering a near-term breakout trade. That trade will hit if HPJ manages to take out its 50-day moving average of $4.63 and then once it clears more key overhead resistance levels at $4.74 to $5 with high volume.
Traders should now look for long-biased trades in HPJ as long as it's trending above some near-term support levels at $4.13 or at $4 and then once it sustains a move or close above those breakout levels with volume that hits near or above 538,345 shares. If that breakout gets underway soon, then HPJ will set up to re-test or possibly take out its next major overhead resistance levels at $5.68 to $6.50.
Hercules Offshore
Hercules Offshore (HERO), together with its subsidiaries, provides shallow-water drilling and marine services to the oil and natural gas exploration and production industry worldwide. This stock closed up 2.7% to $4.79 in Thursday's trading session.
Thursday's Range: $4.66-$4.83
52-Week Range: $4.21-$7.96
Thursday's Volume: 4.82 million
Three-Month Average Volume: 4.18 million
From a technical perspective, HERO jumped higher here right above its 50-day moving average of $4.47 and into breakout territory above resistance at $4.68 to $4.72 with above-average volume. This move higher on Thursday is starting to push shares of HERO within range of triggering another big breakout trade. That trade will hit if HERO manages to take out some key overhead resistance levels at $4.86 to $4.98 with high volume.
Traders should now look for long-biased trades in HERO as long as it's trending above its 50-day at $4.47 or above more near-term support at $4.40 and then once it sustains a move or close above those breakout levels with volume that hits near or above 4.18 million shares. If that breakout materializes soon, then HERO will set up to re-test or possibly take out its next major overhead resistance levels at $5.20 to $5.60, or even $6.
Forest Oil
Forest Oil (FST), an independent oil and gas company, is engaged in the acquisition, exploration, development and production of oil, natural gas and natural gas liquids primarily in North America. This stock closed up 2.1% to $2.42 in Thursday's trading session.
Thursday's Range: $2.36-$2.46
52-Week Range: $1.68-$6.67
Thursday's Volume: 1.75 million
Three-Month Average Volume: 4.06 million
From a technical perspective, FST spiked notably higher here right above some near-term support at $2.28 with lighter-than-average volume. This spike higher on Thursday is starting to push shares of FST within range of triggering a major breakout trade. That trade will hit if FST manages to take out Thursday's intraday high of $2.46 to some more key overhead resistance at $2.59 with high volume.
Traders should now look for long-biased trades in FST as long as it's trending above some near-term support levels at $2.28 to $2.20 or above its 50-day at $2.10 and then once it sustains a move or close above those breakout levels with volume that hits near or above 4.06 million shares. If that breakout kicks off soon, then FST will set up to re-fill some of its previous gap-down-day zone from February that started near $3.30.
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.
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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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