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.
With that in mind, let's take a closer look at a several stocks under $10 that are making large moves to the upside.
Advaxis (ADXS) - Get Report, a clinical development-stage biotechnology company, engages in the development of immunotherapies for cancer and infectious diseases. This stock closed up 1.7% to $4.05 in Thursday's trading session.
Thursday's Range: $3.93-$4.16
52-Week Range: $2.88-$4.60
Thursday's Volume: 109,000
Three-Month Average Volume: 236,311
From a technical perspective, ADXS trended modestly higher here right above its 50-day moving average of $3.83 with lighter-than-average volume. This stock recently formed a double bottom chart pattern over the last month at $3.72 to $3.73. Shares of ADXS are now starting to move within range of triggering a near-term breakout trade. That trade will hit if ADXS manages to take out some near-term overhead resistance levels at $4.25 to $4.60 with high volume.
Traders should now look for long-biased trades in ADXS as long as it's trending above those double bottom support levels at $3.73 to $3.72 and then once it sustains a move or close above those breakout levels with volume that hits near or above 236,311 shares. If that breakout hits soon, then ADXS will set up to re-test or possibly take out its next major overhead resistance levels at its 200-day moving average of $5.19 to $5.83.
Sutor Technology Group
Sutor Technology Group (SUTR) , through its subsidiaries, manufactures and sells finished steel products in the People's Republic of China. This stock closed up 2% to $1.97 in Thursday's trading session
Thursday's Range: $1.95-$2.02
52-Week Range: $0.95-$2.53
Thursday's Volume: 100,000
Three-Month Average Volume: 82,071
From a technical perspective, SUTR spiked modestly higher here right above its 50-day moving average of $1.88 with above-average volume. This move is quickly pushing shares of SUTR within range of triggering a major breakout trade. That trade will hit if SUTR manages to take out Thursday's high of $2.02 to $2.07 to some more key overhead resistance levels at $2.10 to $2.12 with high volume.
Traders should now look for long-biased trades in SUTR as long as it's trending above its 50-day at $1.88 and then once it sustains a move or close above those breakout levels with volume that hits near or above 82,071 shares. If that breakout hits soon, then SUTR will set up to re-test or possibly take out its next major overhead resistance levels at $2.42 to its 52-week high at $2.53.
To see more stocks that are making notable moves higher, check out the Stocks Under $10 Moving Higher portfolio on Stockpickr.
-- Written by Roberto Pedone in Delafield, Wis.
Follow Stockpickr on Twitter and become a fan on Facebook.
At the time of publication, author had no positions in stocks mentioned. Roberto Pedone, based out of Delafield, Wis., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.