Stock Quotes in this Article: CMLS, MNGA, WLT

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.

Walter Energy

Walter Energy (WLT) produces and exports metallurgical coal for the steel industry. This stock closed up 3.7% to $8.13 in Thursday's trading session.

Thursday's Range: $7.77-$8.18

52-Week Range: $7.07-$26

Thursday's Volume: 6.13 million

Three-Month Average Volume: 6.85 million

From a technical perspective, WLT spiked higher here with decent upside volume. This stock has been downtrending badly for the last six months, with shares falling sharply from over $18 to its recent low of $7.07. During that downtrend, shares of WLT have been making mostly lower highs and lower lows, which is bearish technical price action. That said, shares of WLT have started to rebound higher off that $7.07 low and it's now quickly moving within range of triggering a big breakout trade. That trade will hit if WLT manages to take out some near-term overhead resistance at $8.14 to Thursday's high of $8.18 with strong volume.

Traders should now look for long-biased trades in WLT as long as it's trending above its 52-week low of $7.07 and then once it sustains a move or close above those breakout levels with volume that hits near or above 6.85 million shares. If that breakout kicks off soon, then WLT will set up to re-fill some of its previous gap-down-day zone from March that started near $9.50. If that gap gets filled with volume, then WLT could easily tag $11.

Cumulus Media

Cumulus Media (CMLS) owns and operates commercial radio station clusters in the U.S. This stock closed up 1.8% to $7.04 in Thursday's trading session.

Thursday's Range: $6.83-$7.10

52-Week Range: $2.90-$8.19

Thursday's Volume: 2.14 million

Three-Month Average Volume: 1.47 million

From a technical perspective, CMLS trended modestly higher here right above its 50-day moving average of $6.60 with above-average volume. This stock recently formed a double bottom chart pattern at $6.03 to $5.93. Following that bottom, shares of CMLS have started to uptrend and push back above its 50-day moving average. This spike higher on Thursday is now starting to push shares of CMLS within range of triggering a big breakout trade. That trade will hit if CMLS manages to take out some near-term overhead resistance levels at $7.15 to $7.43 with high volume.

Traders should now look for long-biased trades in CMLS as long as it's trending above its 50-day at $6.60 or above $6.25 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.47 million shares. If that breakout gets underway soon, then CMLS will set up to re-test or possibly take out its next major overhead resistance levels at $8 to its 52-week high at $8.19.

Magnegas

Magnegas (MNGA) is an alternative energy company that creates a system that produces hydrogen-based fuel through the gasification of liquid and liquid waste.. This stock closed up 4.7% to $1.54 in Thursday's trading session.

Thursday's Range: $1.49-$1.69

52-Week Range: $0.40-$2.45

Thursday's Volume: 4.88 million

Three-Month Average Volume: 2.64 million

From a technical perspective, MNGA bounced higher here right off some near-term support at $1.40 with strong upside volume. This stock recently sold off from its 52-week high of $2.45 to $1.40. Following that move, shares of MNGA have started to bounce off that $1.40 low and it's quickly pushing within range of triggering a near-term breakout trade. That trade will hit if MNGA manages to take out Thursday's high of $1.69 to some more near-term overhead resistance at $1.82 with high volume.

Traders should now look for long-biased trades in MNGA as long as it's trending above near-term support at $1.40 or at $1.20 and then once it sustains a move or close above those breakout levels with volume that hits near or above 2.64 million shares. If that breakout materializes 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.

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.