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7 Stocks Under $10 Moving Higher - 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 like a recent earnings release. Sometimes stocks making big % moves have been hit with an analyst upgrade or an analyst upgrade.
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.
Let's take a closer look at several stocks under $10 that are making large moves to the upside today.
Celsion (CLSN) is an oncology drug development company focused on the development of therapeutics for those suffering with difficult to treat forms of cancer. This stock is trading up 9.4% at $2.9 in recent trading.
Today’s Range: $2.04-$2.20
52-Week Range: $1.64-$4.37
Three-Month Average Volume: 429,311
Shares of CLSN are soaring today after Brean Murray initiated coverage on the stock with a buy and a $7 a share price target.
From a technical perspective, CLSN is gapping higher today on monster volume. If you take a look at CLSN’s chart, you’ll see that a number of recent up days have registered massive volume. That’s bullish technical behavior, and now the stock is approaching some key breakout levels.
Traders should continue to look for long biased trades in CLSN if it can manage to take out some near-term overhead resistance at $2.34 to $2.37 with volume.
I also featured Celsion earlier this month in "5 Stocks Setting Up to Break Out."
BioDelivery Sciences (BDSI) is a specialty pharmaceutical company utilizing licensed and owned drug delivery technologies to develop and commercialize, either on its own or in partnerships with third parties, new formulations of therapeutics. This stock is trading up 17% at $2.34 in recent trading.
Today’s Range: $2.24-$2.55
52-Week Range: $0.77-$4.05
Three-Month Average Volume: 307,373
Shares of BDSI are ripping higher today after the company said that it has received a patent allowance that will trigger a $15 million milestone payment from Endo Pharmaceuticals (ENDP).
From a technical perspective, BDSI has started to flirt with a major breakout trade today since the stock briefly traded above some near-term overhead resistance at $2.43 on heavy volume.
Traders should now watch for a sustained high-volume move and close above $2.43 to signal that BDSI wants to spike significantly higher. At last check, volume today is well above the average action, and the stock hit a daily high of $2.55. If we get that action soon, look for BSDI to trade up towards $3.20, or possibly even higher.
Corcept Therapeutics (CORT) is a pharmaceutical company engaged in the discovery and development of drugs for the treatment of severe metabolic and psychiatric disorders. This stock is trading up 11.6% at $2.98 in recent trading.
Today’s Range: $2.70-$3.26
52-Week Range: $2.50-$5.07
Three-Month Average Volume: 290,663
Traders should consider long-biased trades in CORT once it can manage to close above both of those key moving averages with volume. If we get that action soon, then look for a much bigger breakout trade to trigger once $3.67 is taken out with volume. Look for volume on either move that registers near or well above 290,663 shares.
Gravity (GRVY) is a developer and publisher of online games in Japan, Taiwan, Brazil, the Philippines, Indonesia, Singapore, Malaysia, Thailand and Russia. This stock is trading up 11.7% at $2.66 in recent trading.
Today’s Range: $2.44-$2.73
52-Week Range: $1.13-$2.49
Three-Month Average Volume: 70,534
From a technical perspective, GRVY is triggering a big breakout trade today now that this stock is moving above some near-term overhead resistance at $2.48 on monster volume. This breakout now gives GRVY a great chance to trend back towards its next significant overhead resistance areas near $3.33 to around $4.
That said, the stock is getting overbought since its current relative strength index (RSI) reading is now 83.46. Look for GRVY to possibly consolidate some of its gains soon, before making another push higher.
Uranium Energy (UEC) is a natural resource exploration company engaged in the exploration of properties in the U.S. This stock is trading up 7.4% to $4.17 in recent trading.
Today’s Range: $3.87-$4.23
52-week Range: $2.20-$6.48
Volume: 1.17 million
Three-Month Average Volume: 459,077
From a technical perspective, UEC is starting to flirt with a major breakout trade today now that this stock is challenging some near-term and past overhead resistance at $4.20 to $4.24 on monster volume.
Traders should now look for a sustained high-volume move and close above those levels, and then above $4.56, to signal that UEC wants to trend significantly higher. If we get that action soon, look for UEC to challenge $6 to $7 in the near future.
Ur-Energy (URG) is an exploration-stage company engaged in the identification, acquisition, evaluation, exploration and development of uranium mineral properties located primarily in the U.S. with additional exploration interests in Canada. This stock is trading up 9.1% to $1.29 in recent trading.
Today’s Range: $1.17-$1.35
52-Week Range: $0.75-$3.10
Three-Month Average Volume: 441,498
From a technical perspective, URG has started to flirt with triggering a breakout trade today now that this stock has challenged some near-term overhead resistance at $1.30 on heavy volume.
Traders should now watch for a sustained high-volume move and close and $1.30 to signal that this stock wants trend higher At last check, volume is already well above the average action and the stock touched a daily high of $1.35. If we get a strong close on URG over $1.30 today, then look for this stock to re-test its next significant overhead resistance levels near $1.50 to $1.74 in the near future.
Platinum Group Metals
Platinum Group Metals (PLG) is engaged in the acquisition, exploration and development of Platinum properties with interests in the western and northern limbs of the Bushveld Complex in South Africa and in Ontario, Canada. This stock is trading up 10.9% to $1.52 in recent trading.
Today’s Range: $1.32-$1.54
52-Week Range: $0.83-$2.62
Three-Month Average Volume: 191,956
From a technical perspective, PLG is starting to challenge a big breakout today now that this stock is trading within range of overhead resistance levels at $1.52 to $1.56 with big volume. Those resistance levels date back to 2011, so a sustained high-volume move and close above them, should be considered very bullish.
If we get that action today or soon, then look for PLG to trend back toward $1.80 to $2 or possibly much higher in the near future.
To see more stocks under-$10 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 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.