WINDERMERE, Fla. ( Stockpickr) -- At Stockpickr, we track daily portfolios of stocks that are the biggest percentage gainers and the biggest percentage losers.
>>5 "Magic Formula" Stocks for 2013
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
Sometimes stocks making big moves have been hit with an
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.
>>Outwit the S&P in 2013 With 5 Hated Stocks
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.
(ZGNX - Get Report)
This is a pharmaceutical company, engaged in the commercializing and developing products for the treatment of central nervous system disorders and pain. This stock is trading up 6.4% to $1.32 in recent trading.
Today's Range: $1.23-$1.36
52-Week Range: $1.11-$3.30
Volume: 2.93 million
Three-Month Average Volume: 1.34 million
From a technical perspective, ZGNX is ripping higher here right above some near-term support at $1.16 with monster upside volume. This stock recently gapped down from $2.36 to $1.11 with big downside volume. That move has pushed ZGNX into oversold territory, since its current relative strength index (RSI) reading is 27. Shares of ZGNX are now starting to bounce off that recent low and move within range of triggering a major breakout trade. That trade will hit once ZGNX manages to take out its gap down day high of $1.44 with high volume.
Traders should now look for long-biased trades in ZGNX as long as it's trending above $1.16, and then once it sustains a move or close above $1.44 with volume that hits near or above 1.34 million shares. If that breakout hits soon, then ZGNX will set up to re-fill some of its previous gap down zone. Some possible upside targets are $1.80 to $2.