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3 Stocks Under $10 to Trade for Breakouts

Stocks in this article: RGDOPLUGNQ

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

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.

Read More: 5 Breakout Stocks to Trade for Gains

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.

With that in mind, let's take a closer look at a several stocks under $10 that are making large moves to the upside.

Read More: Warren Buffett's Top 25 Stocks for 2014

Regado Biosciences (RGDO), a biopharmaceutical company, focuses on the discovery and development of antithrombotic drug systems for acute and sub-acute cardiovascular and other indications. This stock closed flat at $2.91 in Tuesday's trading session.

Tuesday's Range: $2.85-$3.01
52-Week Range: $2.22-$14.10
Tuesday's Volume: 837,000
Three-Month Average Volume: 466,567

From a technical perspective, RGDO closed unchanged here with strong upside volume flows. Shares of RGDO have been uptrending strong for the last few weeks, with shares moving higher from its low of $2.22 to its recent high of $3.19. During that uptrend, shares of RGDO have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of RGDO within range of triggering a major breakout trade above some key near-term overhead resistance levels. That trade will hit if RGDO manages to take out some key near-term overhead resistance levels at $3 to $3.19 with high volume.

Traders should now look for long-biased trades in RGDO as long as it’s trending above Tuesday's intraday of $2.85 or above more near-term support levels at $2.60 to $2.50 and then once it sustains a move or close above those breakout levels with volume that hits near or above 466,567 shares. If that breakout triggers soon, then RGDO will set up to re-fill some of its previous gap-down-day zone from July that started around $7.

Read More: 5 Rocket Stocks to Buy for August Gains

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