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4 Stocks Leaping on Unusual Volume - views
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.
This company engages in the exploration and development of base metals in the United States. It focuses on exploring the Upper Kobuk mineral project, a copper-zinc-lead-gold-silver property located in the Ambler District, northwest Alaska. The stock is trading up 4.1% to $2.04 in recent trading.
Today's Range: $2.00-$2.10
52-Week Range: $1.65-$4.76
Three-Month Average Volume: 236,716
From a technical perspective, NCQ is spiking higher here right below its 50-day moving average of $2.17 with above-average volume. This move is quickly pushing shares of NCQ within range of triggering a major breakout trade. That trade will hit once NCQ manages to take out some near-term overhead resistance levels at $2.17 to $2.25 with high volume.
Traders should now look for long-biased trades in NCQ once it sustains a move or close above $2.17 to $2.25 with volume that hits near or above 236,716 shares. If that breakout triggers soon, then NCQ will set up to re-test or possibly take out its next major overhead resistance levels at $2.60 to $2.99.
This company is building renewable products by applying its industrial synthetic biology technology platform to provide alternatives to select petroleum-sourced products used in specialty chemical and transportation fuel markets worldwide. This stock is trading up 7.1% to $2.85 in recent trading.
Today's Range: $2.67-$2.89
52-Week Range: $1.57-$12.29
Three-Month Average Volume: 333,182
From a technical perspective, AMRS is trending higher here back above its 50-day moving average at $2.77 with light volume. This move is quickly pushing AMRS within range of triggering a near-term breakout trade. That trade will hit once AMRS manages to clear some near-term overhead resistance at $3 with high volume.
Traders should now look for long-biased trades in AMRS as long as it's trending above its 50-day at $2.77, and then once it sustains a move or close above $3 with volume that hits near or above 333,182 shares. If that breakout triggers soon, then AMRS will set up to re-test or possibly take out its next major overhead resistance levels at $3.41 to $4.20.
BioFuel Energy (BIOF)
This company is engaged in the production and sale of ethanol and its co-products through its two ethanol production facilities located in Wood River, Nebraska and Fairmont, Minnesota. This stock is trading up 5.4% to $5 in recent trading.
Today's Range: $4.89-$5.66
52-Week Range: $2.07-$18.40
Three-Month Average Volume: 403,753
From a technical perspective, BIOF is trending higher here right above some near-term support at $4.50 with above-average volume. This move is quickly pushing BIOF within range of triggering a near-term breakout trade. That trade will hit once BIOF takes out its 50-day moving average of $5.60 with high volume. At last check, BIOF has hit an intraday high of $5.66 and volume is well above its three-month average action of 403,753 shares.
Traders should now look for long-biased trades in BIOF as long as it's trending above $5.24, and then once it sustains a move or close above $5.60 to $5.66 with volume that hits near or above 403,753 shares. If that breakout triggers soon, then BIOF will set up to re-test or possibly take its next major overhead resistance levels at $6.55 to its 200-day at $6.77. Any high-volume move above $6.77 will then put $7 to $7.80 into focus for shares of BIOF.
This is a clinical-stage biopharmaceutical company, which is focused on the development of therapeutic products for the treatment of cancer. This stock is trading up 7.5% to $4.32 in recent trading.
Today's Range: $4.00-$4.36
52-Week Range: $3.35-$9.23
Three-Month Average Volume: 493,321
From a technical perspective, ONTY is bouncing sharply higher here right above some near-term support at $3.88 with above-average volume. This stock has been downtrending badly for the last two months, with shares falling from a high of $6.24 to its recent low of $3.88. During that move, shares of ONTY have been mostly making lower highs and lower lows, which is bearish technical price action. That said, shares of ONTY have started to bounce off that $3.88 low today and off of extremely oversold condition. Coming into today, ONTY was showing a relative strength index (RSI) reading of below 30.
Traders should now look for long-biased trades in ONTY as long as it's trending above $3.88 with strong upside volume flows. I would consider any upside volume day that registers near or above its three-month average volume of 493,321 shares as bullish. If ONTY can maintain that trend, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at its 200-day of $4.68 to its 50-day at $4.86. Any high-volume move above those levels will then put $5.34 to $5.58 into focus for shares of ONTY.
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 Winderemere, Fla.
At the time of publication, author had no positions in stocks mentioned.
Roberto Pedone, based out of Windermere, Fla., 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.