Stock Quotes in this Article: MNGA, BODY, COVS

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.

Magnegas

Magnegas (MNGA), an alternative energy company, produces hydrogen-based alternative fuel through the gasification of carbon-rich liquids in the U.S. and internationally. This stock closed up 6.5% to $1.62 in Thursday's trading session.

Thursday's Range: $1.47-$1.63

52-Week Range: $0.40-$2.45

Thursday's Volume: 1.27 million

Three-Month Average Volume: 3.17 million

From a technical perspective, MNGA ripped sharply higher here right above some near-term support at $1.46 and right above its 50-day moving average of $1.39 with lighter-than-average volume. This spike higher on Thursday is starting to push shares of MNGA within range of triggering a major breakout trade. That trade will hit if MNGA manages to take out Thursday's intraday high of $1.63 to more key overhead resistance at $1.83 with high volume.

Traders should now look for long-biased trades in MNGA as long as it's trending above support at $1.46 or above its 50-day at $1.39 and then once it sustains a move or close above those breakout levels with volume that hits near or above 3.17 million shares. If that breakout gets underway soon, then MNGA will set up to re-test or possibly take out its next major overhead resistance levels at $2.40 to its 52-week high at $2.45.

Covisint

Covisint (COVS) provides a cloud engagement platform in the U.S. and internationally. This stock closed up 7.7% to $4.30 a share in Thursday's trading session.

Thursday's Range: $3.91-$4.35

52-Week Range: $3.86-$14.80

Thursday's Volume: 1.81 million

Three-Month Average Volume: 137,691

From a technical perspective, COVS spiked sharply higher here right above its recent 52-week low of $3.86 with monster upside volume. This stock has been downtrending badly for the last few weeks, with shares falling from its high of just over $7 to its 52-week low of $3.86. During that move, shares of COVS have been consistently making lower highs and lower lows, which is bearish technical price action. That move has now pushed shares of COVS into extremely oversold territory, since its current relative strength index reading is 19. Market players should now look for a continuation bounce off oversold levels if COVS can manage to take out Thursday's intraday high of $4.35 with high volume.

Traders should now look for long-biased trades in COVS as long as it's trending above its 52-week low of $3.86 and then once it sustains a move or close above $4.35 with volume that hits near or above 137,691 shares. If that move gets started soon, then COVS will set up to re-test or possibly take out its next major overhead resistance levels at $4.75 to $5.50, or even $6.

Body Central

Body Central (BODY) operates as a specialty retailer of young women's apparel and accessories in the South, Southwest, Mid-Atlantic and Midwest regions of the U.S. This stock closed up 8.5% to 91 cents per share in Thursday's trading session.

Thursday's Range: $0.81-$0.98

52-Week Range: $0.58-$13.39

Thursday's Volume: 1.20 million

Three-Month Average Volume: 869,523

From a technical perspective, BODY spiked sharply higher here right above some near-term support at 75 cents per share with above-average volume. This spike higher on Thursday briefly pushed shares of BODY back above its 50-day moving average of 93 cents per share and into breakout territory above 94 cents per share. Shares of BODY tagged an intraday high of 98 cents per share, before closing just below that level at 91 cents per share. This stock is now starting to move within range of triggering a major breakout trade. That trade will hit if BODY manages to take out Thursday's intraday high of 98 cents per share and then once it clears more key resistance at $1.08 with high volume.

Traders should now look for long-biased trades in BODY as long as it's trending above Thursday's low of 81 cents per share and then once it sustains a move or close above those breakout levels with volume that hits near or above 869,523 shares. If that breakout triggers soon, then BODY will set up to re-test or possibly take out its next major overhead resistance level at $1.34. Any high-volume move above $1.34 will then give BODY a chance to re-fill some of its previous gap-down-day zone from March that started just above $1.75.

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.