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.
CytRx
CytRx (CYTR) operates as a biopharmaceutical research and development company specializing in oncology. This stock closed up 2.4% to $3.41 in Tuesday's trading session.
Tuesday's Range: $3.27-$3.45
52-Week Range: $1.95-$8.35
Tuesday's Volume: 1.07 million
Three-Month Average Volume: 2.35 million
From a technical perspective, CYTR trended higher here with lower-than-average volume. This stock has been uptrending a bit over the last month, with shares moving higher from its low of $2.78 to its recent high of $3.62. During that uptrend, shares of CYTR have been making mostly higher lows and higher highs, which is bullish technical price action. This spike higher on Tuesday is starting to push shares of CYTR within range of triggering a major breakout trade. That trade will hit if CYTR manages to take out some near-term overhead resistance at $3.62 and then once it clears both its 50-day moving average of $3.71 to its 200-day moving average of $3.82 with high volume.
Traders should now look for long-biased trades in CYTR as long as it's trending above Tuesday's low of $3.27 or above $3 and then once it sustains a move or close above those breakout levels volume that hits near or above 2.35 million shares. If that breakout gets started soon, then CYTR will set up to re-test or possibly take out its next major overhead resistance level at $4.64.
Hemispherx Biopharma
Hemispherx Biopharma (HEB), a specialty pharmaceutical company, engages in the clinical development of new drug therapies based on natural immune system enhancing technologies for the treatment of viral and immune based chronic disorders. This stock closed up 11.1% to 37 cents in Tuesday's trading session.
Tuesday's Range: $0.31-$0.37
52-Week Range: $0.19-$0.55
Tuesday's Volume: 1.67 million
Three-Month Average Volume: 1.50 million
From a technical perspective, HEB ripped sharply higher here right above its 200-day moving average of 30 cents per share with above-average volume. This move is quickly pushing shares of HEB within range of triggering a near-term breakout trade. That trade will hit if HEB manages to take out its 50-day moving average of 37 cents per share to some more near-term overhead resistance levels at 38 to 40 cents per share with high volume.
Traders should now look for long-biased trades in HEB as long as it's trending above some key near-term support at 30 cents per share and then once it sustains a move or close above those breakout levels volume that hits near or above 1.50 million shares. If that breakout triggers soon, then HEB will set up to re-test or possibly take out its next major overhead resistance levels at 50 to its 52-week high at 55 cents per share.
Geron
Geron (GERN), a clinical stage biopharmaceutical company, develops a telomerase inhibitor, imetelstat, to treat hematologic myeloid malignancies. This stock closed up 8.6% to $2.02 in Tuesday's trading session.
Tuesday's Range: $1.92-$2.07
52-Week Range: $1.05-$7.79
Tuesday's Volume: 4.52 million
Three-Month Average Volume: 5.52 million
From a technical perspective, GERN gapped sharply higher here with decent upside volume. This spike higher on Tuesday is quickly pushing shares of GERN within range of triggering a near-term breakout trade. That trade will hit if GERN manages to take out some near-term overhead resistance at $2.07 with strong upside volume flows.
Traders should now look for long-biased trades in GERN as long as it's trending above Tuesday's low of $1.92 or above more near-term support at $1.69 and then once it sustains a move or close above $2.07 with volume that hits near or above 5.52 million shares. If that breakout triggers soon, then GERN will set up to re-test or possibly take out its next major overhead resistance levels at $2.29 to $2.53. Any high-volume move above $2.53 will then give GERN a chance to re-fill some of its previous gap-down-day zone from March that started near $4.50.
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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