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- 4 Stocks Rising on Unusual Volume
- 5 Stocks Poised for Breakouts
8 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 such as a recent earnings release. Sometimes stocks making big 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 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 several stocks under $10 that are making large % moves to the upside today.
Hansen Medical (HNSN) develops, manufactures and markets a generation of medical robotics designed for accurate positioning, manipulation and stable control of catheters and catheter-based technologies. This stock is trading up 8.9% at $3.53 in recent trading.
Today’s Range: $3.16-$3.56
52-Week Range: $1.90-$5.28
Three-Month Average Volume: 595,587
Market players should now watch for a sustained high-volume move and close above those levels, and above the last major near-term overhead resistance at $3.68, to signal a much large move to the upside for HNSN. If we get that action soon, then I would target a spike higher back toward $4.20 to $4.46 in the near-term.
Sky-mobi (MOBI) is a mobile application store in China. Sky-mobi operates mobile social games and provides applications and content with social network functions to its registered members. This stock is trading up 7.4% at $4.06 in recent trading.
Today’s Range: $3.72-$4.25
52-Week Range: $2.75-$23.25
Three-Month Average Volume: 186,634
From a technical standpoint, this move in MOBI today is now pushing the stock within range of a major breakout.
Traders should now watch MOBI for long biased trades if the stock can manage to take out $4.19 and then $4.49 on high-volume. Look for volume on a sustained move and close above those levels that’s near or above 186,634 shares.
If we get that action soon, then look for MOBI to make a run at $5.50 to $6.13, or possibly even its 200-day moving average of $6.46.
I also featured Sky-mobi ahead of its recent earnings report in "5 Stocks Set to Soar on Bullish Earnings."
Keegan Resources (KGN) is an exploration-stage company. Keegan Resources is focusing on advancing its principal property, the Esaase Gold Project to commercial production. This stock is trading up 14.5% at $4.73 in recent trading.
Today’s Range: $4.35-$4.78
52-Week Range: $3.42-$9.65
Volume: 1.2 million
Three-Month Average Volume: 303,216
From a technical standpoint, KGN has started to trigger a major breakout today now that this stock is moving above some near-term overhead resistance levels at $4.30 to $4.54 on monster volume.
Traders should now look for a sustained high-volume move and close above those levels to signal that KGN wants to trend significantly higher. I would target a run back towards $6 or possibly its 200-day moving average of $6.55, if KGN can hold this breakout and continue to see strong volume flows on the up days.
Dynavax Technologies (DVAX) is a biopharmaceutical company that discovers and develops products to prevent and treat infectious diseases, asthma and inflammatory and autoimmune diseases. This stock is trading up 10% at $4.05 in recent trading.
Today’s Range: $3.65-$4.21
52-Week Range: $1.75-$3.83
Volume: 7.5 million
Three-Month Average Volume: 1.6 million
Shares of DVAX are soaring today after the company announced that it met with the FDA in a pre-BLA meeting, and Dynavax and the FDA have agreed that in the initial HEPLISAV BLA submission will be for an indication in healthy adults aged 18 to 70. This agreement represents a significant expansion of the previously anticipated population of healthy adults aged 40 and over.
From a technical standpoint, DVAX is starting to trigger a major breakout trade today with the stock moving above some near-term overhead resistance at $3.83 on monster volume. This move has now pushed DVAX into territory not seen since early 2008. The next significant overhead resistance level on DVAX sits at around $6, so as long as this breakout holds, traders should look for $6 to get it soon.
Oncolytics Biotech (ONCY) is a development-stage biopharmaceutical company that focuses on the discovery and development of pharmaceutical products for the treatment of cancers. This stock is trading up 7.5% to $5.45 in recent trading.
Today’s Range: $5.11-$5.66
52-Week Range: $3.15-$6.69
Three-Month Average Volume: 79,361
From a technical standpoint, ONCY recently triggered a major breakout trade once the stock cleared some overhead resistance at $4.88 on heavy volume. This move has now pushed ONCY into overbought territory since its relative strength index (RSI) reading is 84.44.
Anything reading on the RSI over 70 is considered overbought. This overbought reading doesn’t mean that ONCY can’t continue to move higher, but it does mean it’s time to be a big more cautious with long trades. The next major overhead resistance level on ONCY is $5.75, so any move over that should put ONCY within range of challenging its 52-week high of $6.69.
Patriot Coal (PCX), 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 11.9% to $8.64 in recent trading.
Today’s Range: $7.51-$8.76
52-Week Range: $6.92-$27.56
Volume: 13.4 million
Three-Month Average Volume: 6.6 million
Shares of PCX are ripping higher today after the company reported a fourth-quarter loss and idled a West Virginia mine, saying demand was weak and it would leave its highest-quality coal in the ground until conditions improve.
From a technical standpoint, PCX are bouncing big today on huge volume off a near-term support level at $7.50. Market players should now look for continued upside if PCX can take out its 50-day moving average of $8.78 on strong volume.
It looks like the stock is going to challenge that level today, and volume is very strong. If we get that action, then look for PCX to trigger its next big breakout if the stock can move above $8.93 to $9.59 on strong volume.
Metalico (MEA) operates in two business segments: scrap metal recycling and lead metal product fabricating. This stock is trading up 4.4% to $3.77 in recent trading.
Today’s Range: $3.60-$3.77
52-Week Range: $3.55-$6.69
Three-Month Average Volume: 207,058
From a technical standpoint, MEA is getting very close to triggering a major breakout today if this stock can manage to clear some near-term overhead resistance.
Market players should consider long biased trades in MEA if the stock can take out $3.78 with big volume. At last check, volume today is tracking in strong and the stock is getting very close to triggering that breakout. Look for volume on the move that’s well above 207,058 shares.
If we see that action soon, I would target a run back towards its 200-day moving average of $4.54.
Rare Elements Resources
Rare Elements Resources (REE) is a medical technology company. Biolase Technology designs, manufactures and markets dental, cosmetic and surgical lasers and related products. This stock is trading up 9.5% to $7.61 in recent trading.
Today’s Range: $7.08-$7.79
52-Week Range: $3.86-$16.55
Volume: 3.3 million
Three-Month Average Volume: 1.6 million
From a technical standpoint, REE has started to trigger a breakout trade today now that this stock is moving above some near-term overhead resistance levels at $7.37 to $7.53 on massive volume. This move now puts REE within range of tagging its 200-day moving average of $8.17.
Market players should continue to look for short-term long biased trades in REE if the stock can manage to close above $7.53 and near its daily highs. I am suggesting short-term trades because the stock just ran from $3.08 to its current level over $7.50.
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.