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3 Chinese Stocks Under $10 to Watch

DELAFIELD, Wis. ( Stockpickr) -- At Stockpickr, we track daily portfolios of stocks that are the biggest percentage gainers and the biggest percentage losers.

>>5 Big Trades for Year-End Gains

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.

>>5 Stocks Insiders Love Right Now

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.

China Information Technology

China Information Technology ( CNIT) provides information and display technologies in the Peoples Republic of China. This stock closed up 9.6% to $6.23 in Thursday's trading session.

Thursday's Range: $5.38-$6.25
52-Week Range: $0.91-$7.15
Thursday's Volume: 353,000
Three-Month Average Volume: 126,364

From a technical perspective, CNIT exploded higher here and broke out above some near-term overhead resistance at $6.04 with strong upside volume. Market players should now look for a continuation move higher in the short-term if shares of CNIT can manage to take out Thursday's high of $6.25 with bullish upside volume flows.

Traders should now look for long-biased trades in CNIT as long as it's trending above Thursday's low of $5.38, and then once it sustains a move or close above Thursday's high of $6.25 with volume that hits near or above 126,364 shares. If we get that move soon, then CNIT will set up to re-test or possibly take out its 52-week high at $7.15. Any high-volume move above $7.15 will then give CNIT a chance to tag $8.

Bona Film Group

Bona Film Group ( BONA) operates as a film distributor in China. Its activities consist of film sourcing, print and marketing, exhibition and film advertising. This stock closed up 5.7% to $5.75 in Thursday's trading session.
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BONA $13.63 0.00%
CCIH $8.34 1.71%
CNIT $1.54 0.00%
AAPL $94.19 -1.04%
FB $118.06 0.54%


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