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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.
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.
Parker Drilling (PKD) provides contract drilling and drilling-related services and operates in approximately 12 countries. This stock closed up 6.6% to $4.63 on Thursday.
Thursday's Range: $4.33-$4.63
52-Week Range: $3.61-$6.18
Three-Month Average Volume: 707,794
From a technical perspective, PKD ripped higher here right off its 50-day moving average at $4.32 and back above its 200-day moving average at $4.55 with above-average volume. This trend with volume back above both of its key moving averages is signaling a potentially bullish move higher for PKD. Shares of PKD are now quickly moving within range of triggering a major breakout trade. That trade will hit if PKD manages to take out some near-term overhead resistance levels at $4.76 to $4.94 and then once it clears more resistance at $5.23 with high volume.
Traders should now look for long-biased trades in PKD as long as it's trending above its 50-day at $4.32 or above some more near-term support at $4.15 and then once it sustains a move or close above those breakout levels with volume that hits near or above 707,794 shares. If that breakout triggers soon, then PKD will set up to re-test or possibly take out its next major overhead resistance levels at $6.18 to $6.50.
Genie Energy (GNE) is engaged in developing pioneering technologies to produce clean and affordable transportation fuels from the world's abundant unconventional fuel resources. This stock closed up 9.5% to $9.79 on Thursday.
Thursday's Range: $8.98-$9.84
52-Week Range: $5.75-$12.21
Three-Month Average Volume: 113,398
From a technical perspective, GNE soared higher here right off some near-term support at $9 and back above its 50-day moving average at $9.68 with above-average volume. This stock flirted with a breakout on Thursday, after shares tested some resistance at $9.80. At last check, GNE hit an intraday high of $9.84 and volume was above its three-month average action of 113,398 shares.
Traders should now look for long-biased trades in GNE as long as it's trending above its 50-day at $9.68 and then once it sustains a move or close above those $9.80 to $9.84 with volume that hits near or above 113,398 shares. If we get that move soon, then GNE will set up to re-test or possibly take out its next major overhead resistance levels at $10.50 to $11.50. Any high-volume move above $11.50 will then put its 52-week high at $12.21 into range for shares of GNE.
AK Steel (AKS) is a producer of flat-rolled carbon, stainless and electrical steels, and tubular products. This stock closed up 6.1% to $3.62 on Thursday.
Thursday's Range: $3.43-$3.64
52-Week Range: $2.76-$6.73
Volume: 7.63 million
Three-Month Average Volume: 5.8 million
Shares of AKS trended higher on Thursday after the company said it's boosting its carbon flat-rolled steel spot prices by at least $40 per ton effective immediately. The increase applies to new orders.
From a technical perspective, AKS jumped higher here right above its 50-day moving average at $3.30 with heavy upside volume. This stock recently formed a double bottom at $3.27 to $3.28 and it's now quickly moving within range of triggering a near-term breakout trade. That trade will hit if AKS manages to take out some near-term overhead resistance levels at $3.78 to $3.88 with high volume.
Traders should now look for long-biased trades in AKS as long as it's trending above its 50-day at $3.30 or above some key near-term support at $3.27 and then once it sustains a move or close above those breakout levels with volume that hits near or above 5.8 million shares. If that breakout triggers soon, then AKS will set up to re-test or possibly take out its next major overhead resistance levels at $4.50 to $5. Any high-volume move above $5 will then put its next major overhead resistance levels at $5.50 to $6 into range for shares of AKS.
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 Madison, Wis.
At the time of publication, author had no positions in stocks mentioned.
Roberto Pedone, based out of Madison, 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.