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.
Vaalco Energy
Vaalco Energy (EGY), an independent energy company, acquires, explores for, develops and produces crude oil and natural gas. This stock closed up 0.9% to $6.50 in Thursday's trading session.
Thursday's Range: $6.29-$6.53
52-Week Range: $5.03-$9.32
Thursday's Volume: 791,000
Three-Month Average Volume: 724,759
From a technical perspective, EGY trended modestly higher here right above some near-term support at $6.20 with above-average volume. This move is starting to push shares of EGY within range of triggering a near-term breakout trade. That trade will hit if EGY manages to take out some near-term overhead resistance levels at $6.53 to its 200-day moving average of $6.58 and then $6.75 with high volume.
Traders should now look for long-biased trades in EGY as long as it's trending above some key near-term support at $6.20 and then once it sustains a move or close above those breakout levels with volume that hits near or above 724,759 shares. If that breakout hits soon, then EGY will set up to re-test or possibly take out its next major overhead resistance levels at its 50-day moving average of $7.87 to $7.90.
Recon Technology
Recon Technology (RCON) provides hardware, software and on-site services to companies in the petroleum mining and extraction industry in the People's Republic of China. This stock closed up 6.3% to $4.39 in Thursday's trading session.
Thursday's Range: $4.00-$4.58
52-Week Range: $1.70-$8.00
Thursday's Volume: 260,000
Three-Month Average Volume: 145,541
From a technical perspective, RCON ripped sharply higher here right off its 200-day moving average of $4.05 and back above its 50-day moving average of $4.29 with above-average volume. This spike higher on Thursday is quickly pushing shares of RCON within range of triggering a big breakout trade. That trade will hit if RCON manages to take out some key near-term overhead resistance at $4.58 with high volume.
Traders should now look for long-biased trades in RCON as long as it's trending Thursday's low of $4 and then once it sustains a move or close above $4.58 with volume that hits near or above 145,541 shares. If that breakout starts soon, then RCON will set up to re-test or possibly take out its next major overhead resistance levels at $5.62 to $5.84, or even $6.
Millennial Media
Millennial Media (MM) provides mobile advertising solutions to advertisers and developers in the U.S. and internationally. This stock closed up 3.8% to $4.01 in Thursday's trading session.
Thursday's Range: $3.88-$4.09
52-Week Range: $2.90-$10.48
Thursday's Volume: 1.09 million
Three-Month Average Volume: 2.12 million
From a technical perspective, MM jumped higher here right above some near-term support at $3.82 with lighter-than-average volume. This stock recently formed a double bottom chart pattern at $3.81 to $3.82. Since forming that bottom, shares of MM have started to uptick and the stock is now quickly moving within range of triggering a major breakout trade. That trade will hit if MM manages to take out some key near-term overheard resistance levels at $4.14 to $4.29 with high volume.
Traders should now look for long-biased trades in MM as long as it's trending above those double bottom support levels or above more support at $3.50 and then once it sustains a move or close above those breakout levels with volume that hits near or above 2.12 million shares. If that breakout kicks off soon, then MM will set up to re-fill some of its previous gap-down-day zone from early May that started just above $5.50.
Galena Biopharma
Galena Biopharma (GALE), a biopharmaceutical company, focuses on developing and commercializing oncology treatments that address major unmet medical needs to advance cancer care. This stock closed up 6.6% to $2.40 in Thursday's trading session.
Thursday's Range: $2.25-$2.41
52-Week Range: $1.65-$7.77
Thursday's Volume: 2 million
Three-Month Average Volume: 4.01 million
From a technical perspective, GALE spiked sharply higher here right off its 50-day moving average of $2.28 with lighter-than-average volume. This move is starting to push shares of GALE within range of triggering a near-term breakout trade. That trade will hit if GALE manages to take out Thursday's intraday high of $2.41 to some more near-term overhead resistance at $2.54 with high volume.
Traders should now look for long-biased trades in GALE as long as it's trending above its 50-day at $2.28 or above more support at $2.14 and then once it sustains a move or close above those breakout levels with volume that hits near or above 4.01 million shares. If that breakout materializes soon, then GALE will set up to re-test or possibly take out its next major overhead resistance levels at $2.71 to $2.72. Any high-volume move above those levels will then give GALE a chance to tag its 200-day moving average of $3.19.
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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