- 5 Stocks Insiders Love Right Now
- 5 Stocks the Pros Love This Summer
- 5 Stocks Under $10 Making Big Moves
- 3 Health Care Stocks Under $10 to Watch
- 5 Stocks Poised to Pop on Bullish Earnings
7 Stocks Under $10 Moving Higher - views
Stocks that are making large-percentage 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 like a recent earnings release. Sometimes stocks making big-percentage moves have been hit with an analyst upgrade or an analyst upgrade.
No matter what the reason is, 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 the trade correctly and combine a number of technical indicators like volume, price, and momentum indicators such as relative strength index. Combine all of those technical indicators with fundamental trends, discipline and sound money management and you will be well on your way to investment success.
With that in mind, let's take a closer look at several stocks under $10 that are making large-percentage moves to the upside today. These names warrant a closer look since there’s clearly investor interest. Some of these names could potentially be just starting an even larger trend higher.
Leap Wireless International
Leap Wireless International (LEAP) is a wireless communications carrier that offers digital wireless services in the U.S. under the Cricket brand. This stock is trading up 14% at $8.92 in recent trading.
Today’s Range: $8.34-$9.06
52-Week Range: $5.50-$17.66
Three-Month Average Volume: 2,042,100
This stock is ripping higher today after RBC Capital analyst Jonathan Atkin raised his rating on the stock to outperform from sector perform and issued a new price target of $11 a share, up from $9 a share.
From a technical standpoint, the spike higher in LEAP today now sets up the stock for a big breakout if it can manage to trade above some past overhead resistance levels on high-volume.
Traders should now watch for a breakout to trigger if LEAP can take out $9.70 to $10 on volume that’s close to or greater than its 2,042,100 shares. If we get a sustained move and close above those levels, then look for this stock to re-test its 200-day moving average of $11.97 or possibly trend much higher.
I also featured Leap in "5 Beaten-Down Tech Stocks Poised to Rebound."
Acura Pharmaceuticals (ACUR) is a specialty pharmaceutical company engaged in research, development and manufacture of product candidates providing abuse deterrent features and benefits utilizing its Aversion and Impede Technologies. This stock is trading up 11% at $3.66 in recent trading.
Today’s Range: $3.43-$3.71
52-Week Range: $2.28-$6.80
Three-Month Average Volume: 108,748
From a technical standpoint, this stock is now approaching a major breakout if it can manage to move above both its 200-day moving average at $3.73 and its 50-day moving average of $3.90 on high volume. A high-volume move above those levels should set this stock up to challenge $4.20 to $5.49 in the near future.
That $4.20 price point is the next significant overhead resistance level, so if that gets taken out with volume, look for a big run higher in the near future.
Quantum Fuel Systems Technologies
Quantum Fuel Systems Technologies (QTWW) is an integrated alternative energy company engaged in the development and production of advanced clean propulsion systems, and renewable energy generation systems and services. This stock is trading up 16.3% at $1.38 in recent trading.
Today’s Range: $1.20-$1.50
52-Week Range: $1.02-$10.80
Three-Month Average Volume: 158,562
From a technical standpoint, this stock is bouncing big today off of an extreme oversold condition. Just a couple of trading sessions ago, this stock registered a relative strength index (RSI) reading of well below 30. Any RSI reading of 30 indicates an oversold condition, so well below 30 is extremely oversold.
The next buy point on this stock will trigger once QTWW trades above some near-term overhead resistance at $1.60 on high volume. A high-volume move above that level should set this stock up to re-test $1.80 to $2.04 (its 50-day moving average) in the near future.
Eltek (ELTK) manufactures and supplies custom made circuitry solutions for use in electronic products. This stock is trading up 17% at $1.40 in recent trading.
Today’s Range: $1.40-$1.59
52-Week Range: $0.91-$1.85
Three-Month Average Volume: 9,486
This stock is soaring today after the company said its third quarter revenues increased by 33% to $12 million, and their net profit jumped a whopping 358% to $573,000.
From a technical standpoint, this stock is gapping up big today on monster volume that’s extremely higher than its three-month average volume of just 9,486.
Market players should now watch for a sustained high-volume move and close above some past overhead resistance at $1.54. If we get that move, it will trigger a big breakout, and it should set the stock up to re-test its next significant overhead resistance level at $1.85.
Patriot Coal (PCX), together with its subsidiaries, is a producer of thermal coal in the eastern U.S., with operations and coal reserves in the Appalachia and the Illinois Basin coal regions. This stock is trading up 14% to $9.91 in recent trading.
Today’s Range: $9.32-$10.07
52-Week Range: $6.92-$29.20
Three-Month Average Volume: 7,722,710
From a technical standpoint, this stock is starting to bounce big today off of extreme oversold levels. Just a few trading sessions ago, the RSI reading for PCX hit near 30, which indicates an oversold condition.
Market players should now watch for the next buy point to trigger once PCX can clear its 50-day moving average of $10.02 on high volume. Look for a sustained move and close over $10.02 on volume that’s tracking in close to or above 7,722,710. If we get that action, then look for this stock to quickly challenge $12.50 to $13.50 in the near future.
Patriot Coal was also featured in "5 Breakout Trades to Avoid Eurozone Fallout."
Progenics Pharmaceuticals (PGNX) is a biopharmaceutical company focused on the development and commercialization of therapeutic products to treat the unmet medical needs of patients with debilitating conditions and life-threatening diseases. This stock is trading up 14.9% to $6.39 in recent trading.
Today’s Range: $5.85-$6.36
52-Week Range: $4.46-$8.69
Three-Month Average Volume: 111,467
From a technical standpoint, this stock recently found some big buying support at some previous support zones near $5 a share. After buyers stepped in around $5, the stock has started to run and has now moved through its 50-day moving average of 6.16.
Traders should look for the next buy point to trigger once PGNX can sustain a high-volume move and close above its 200-day moving average of $6.53. If we get that high-volume move over $6.53, then look for this stock to challenge $7 to $8 in the near future.
Tudor is one of the top holdings of Tudor Investment as of the most recently reported quarter.
Rubicon Technology (RBCN) is an electronic materials provider that develops, manufactures and sells monocrystalline sapphire and other crystalline products for LEDs, RFICs and other optical applications. This stock is trading up 16% to $9.83 in recent trading.
Today’s Range: $8.81-$9.92
52-Week Range: $8.73-$29.79
Three-Month Average Volume: 454,606
From a technical standpoint, this stock is starting to bounce big off extreme oversold levels. Shares of Rubicon have plunged from its July high of $18.28 to a recent low of $8.23. When the stock hit that low at $8.23, it registered a RSI reading of 30, which indicates an oversold condition. Oversold can always get more oversold, but traders have jumped into RBCN today pushing the stock up sharply.
The next buy point will trigger once RBCN takes out its 50-day moving average of $10.41 on high-volume. Traders should look for a sustained move and close over $10.41 on volume that’s tracking in close to or above 454,606 shares. If we see that move, then look for this stock to challenge $12 to $13 in the near-term.
To see more stocks under-$10 that are making large moves higher today, including Zoltek Companies (ZOLT), Advanced Analogic Technologies (AATI) and Genetic Technologies (GENE), 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 stocks, options, futures, commodities and currencies. He is also an outside contributor to Beconequity.com and maintains the website Maddmoney.net, which he sold to Blue Wave Advisors in 2008. Roberto studied International Business at The Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany.