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.
Raptor Pharmaceuticals
Raptor Pharmaceuticals (RPTP), a biopharmaceutical company, focuses on developing and commercializing life-altering therapeutics that treat debilitating and often fatal diseases. This stock closed up 4.1% to $8.84 a share in Tuesday's trading session.
Tuesday's Range: $8.46-$8.85
52-Week Range: $6.69-$17.72
Tuesday's Volume: 723,000
Three-Month Average Volume: 1.05 million
From a technical perspective, RPTP spiked notably higher here back above its 50-day moving average of $8.80 with lighter-than-average volume. This spike higher on Tuesday is quickly pushing shares of RPTP within range of triggering a big breakout trade. That trade will hit if RPTP manages to take out Tuesday's intraday high of $8.85 to some more key overhead resistance levels at $9 to $9.09 with high volume.
Traders should now look for long-biased trades in RPTP as long as it's trending above Tuesday's low of $8.46 or above more near-term support at $8.30 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.05 million shares. If that breakout triggers soon, then RPTP will set up to re-test or possibly take out its next major overhead resistance levels at $10.50 to $11.50.
Onconova Therapeutics
Onconova Therapeutics (ONTX), a clinical-stage biopharmaceutical company, focuses on discovering and developing small molecule drug candidates to treat cancer. This stock closed up 6.5% to $4.87 a share in Tuesday's trading session.
Tuesday's Range: $4.58-$4.94
52-Week Range: $4.49-$31.13
Tuesday's Volume: 118,000
Three-Month Average Volume: 266,502
From a technical perspective, ONTX ripped sharply higher here right above its 52-week low of $4.49 with lighter-than-average volume. This stock has been downtrending badly for the last three months and change, with shares moving lower from hits high of $9.34 to its 52-week low of $4.49. During that downtrend, shares of ONTX have been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of ONTX are now starting to bounce off its 52-week low and it's quickly moving within range of triggering a near-term breakout trade. That trade will hit if ONTX manages to take out some near-term overhead resistance levels at $5 to $5.16 with high volume.
Traders should now look for long-biased trades in ONTX as long as it's trending above its 52-week low of $4.49 and then once it sustains a move or close above those breakout levels with volume that hits near or above 266,502 shares. If that breakout starts soon, then ONTX will set up to re-test or possibly take out its next major overhead resistance levels at $5.83 to $6.27. Any high-volume move above those levels will then give ONTX a chance to tag $7.
Halcon Resources
Halcon Resources (HK), an independent energy company, is engaged in the acquisition, production, exploration, and development of onshore oil and natural gas properties in the U.S. This stock closed up 4.6% to $5.83 a share in Tuesday's trading session.
Tuesday's Range: $5.51-$5.87
52-Week Range: $3.16-$6.44
Tuesday's Volume: 4.87 million
Three-Month Average Volume: 5.63 million
From a technical perspective, HK bounced sharply higher here right off some near-term support at $5.50 with lighter-than-average volume. This bounce higher on Tuesday is quickly pushing shares of HK within range of triggering a near-term breakout trade. That trade will hit if HK manages to take out Tuesday's intraday high of $5.87 to some more near-term overhead resistance levels at $6 to $6.04 with high volume.
Traders should now look for long-biased trades in HK as long as it's trending above Tuesday's low of $5.51 or above more near-term support levels at $5.23 to $5 and then once it sustains a move or close above those breakout levels with volume that hits near or above 5.63 million shares. If that breakout starts soon, then HK will set up to re-test or possibly take out its 52-week high of $6.44 to some more past resistance at $6.75 to $7.
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 Big Stocks to Trade (or Not)
>>5 Stocks Poised for Breakouts
>>5 Stocks Under $10 Set to Soar
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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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