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.
TG Therapeutics (TGTX) - Get Report, a clinical-stage biopharmaceutical company, focuses on the acquisition, development and commercialization of innovative and medically important pharmaceutical products for the treatment of cancer and other underserved therapeutic needs. This stock closed up 9.9% to $4.77 in Tuesday's trading session.
Tuesday's Range: $4.39-$4.85
52-Week Range: $2.97-$7.75
Tuesday's Volume: 410,000
Three-Month Average Volume: 214,390
From a technical perspective, TGTX jumped sharply higher here and flirted with a big breakout above some key overhead resistance levels at $4.75 to $4.82 with above-average volume. Shares of TGTX hit an intraday high on Tuesday of $4.85 before finishing the trading session at $4.77. Market players should now look for a continuation move higher in the short-term if shares of TGTX can manage to take out Tuesday's high of $4.85 with strong volume.
Traders should now look for long-biased trades in TGTX as long as it's trending above Tuesday's low of $4.39 or above $4.25 and then once it sustains a move or close above $4.85 with volume that hits near or above 214,390 shares. If we get that move soon, then TGTX will set up to re-test or possibly take out its next major overhead resistance levels at its 200-day moving average of $5.33 to $6.
Cardium Therapeutics (CXM) , a medical technology company, engages in the development and commercialization of products and devices for cardiovascular and ischemic diseases, wound healing and tissue repair. This stock closed up 10.1% to 76 cents per share in Tuesdays trading session.
Tuesday's Range: $0.69-$0.77
52-Week Range: $0.58-$4.00
Tuesday's Volume: 234,000
Three-Month Average Volume: 102,398
From a technical perspective, CXM ripped sharply higher here right above some near-term support at 65 cents with above-average volume. This move briefly pushed shares of CXM back above its 50-day moving average of 76 cents, after it tagged an intraday high of 77 cents. Shares of CXM closed right on its 50-day at 76 cents. Market players should now look for a continuation move higher in the short-term if CXM can manage to take out Tuesday's high of 77 cents with high volume.
Traders should now look for long-biased trades in CXM as long as it's trending above Tuesday's low of 69 cents or above 65 cents and then once it sustains a move or close above 77 cents with volume that hits near or above 102,398 shares. If we get that move soon, then CXM will set up to re-test or possibly take out its next major overhead resistance levels at 89 to 95 cents per share.
Oncothyreon (ONTY) , a clinical-stage biopharmaceutical company, engages in the development of therapeutic products for the treatment of cancer. This stock closed up 8.9% to $2.06 in Tuesday's trading session.
Tuesday's Range: $1.91-$2.07
52-Week Range: $1.55-$2.81
Tuesday's Volume: 1.81 million
Three-Month Average Volume: 581,494
From a technical perspective, ONTY ripped higher here right off its 200-day moving average of $1.92 with heavy upside volume. This stock has been uptrending strong over the last few weeks, with shares moving higher from its low of $1.68 to its intraday high of $2.07. During that move, shares of ONTY have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of ONTY within range of triggering a big breakout trade. That trade will hit if ONTY manages to take out some key overhead resistance levels at $2.08 to $2.15 with high volume.
Traders should now look for long-biased trades in ONTY as long as its trending above its 200-day at $1.92 and then once it sustains a move or close above those breakout levels with volume that hits near or above 581,494 shares. If that breakout hits soon, then ONTY will set up to re-test or possibly take out its next major overhead resistance levels at $2.43 to its 52-week high at $2.81.
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.
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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.