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.
Tristate Capital (TSC) - Get TriState Capital Holdings, Inc. Report operates as the bank holding company for TriState Capital Bank that provides various commercial and private banking, and investment management services for middle-market companies, institutional clients, and high-net-worth individuals in the U.S. This stock closed up 4.1% to $9.47 a share in Thursday's trading session.
Thursday's Range: $9.13-$9.47
52-Week Range: $8.98-$14.91
Thursday's Volume: 98,000
Three-Month Average Volume: 151,228
From a technical perspective, TSC bounced sharply higher here right above its 52-week low of $8.98 with lighter-than-average volume. This strong trend to the upside on Thursday is starting to push shares of TSC within range of triggering a near-term breakout trade above some key overhead resistance levels. That trade will hit if TSC manages to take out some near-term overhead resistance levels at $9.66 to $9.71 with high volume.
Traders should now look for long-biased trades in TSC as long as it's trending above Thursday's intraday low of $9.13 or above its 52-week low of $8.98 and then once it sustains a move or close above those breakout levels with volume that hits near or above 151,228 shares. If that breakout develops soon, then TSC will set up to re-test or possibly take out its next major overhead resistance levels at its 50-day moving average of $10.30 to $10.40, or even $10.82 to just over $11.
Republic First Bancorp
Republic First Bancorp (FRBK) - Get Republic First Bancorp, Inc. Report operates as the holding company for Republic First Bank that provides various credit and depository banking services to individuals and businesses. This stock closed flat to $4.41 in Thursday's trading session.
Thursday's Range: $4.40-$4.50
52-Week Range: $2.86-$6.00
Thursday's Volume: 69,000
Three-Month Average Volume: 148,002
From a technical perspective, FRBK briefly bounced higher here right above some near-term support at $4.32 with lighter-than-average volume. Shares of FRBK tagged an intraday high of $4.50, before it closed flat at $4.41. Shares of FRBK are still trending within range of triggering a near-term breakout trade. That trade will hit if FRBK manages to take out its 50-day moving average of $4.54 to some more key overhead resistance levels at $4.74 to $4.78 with high volume.
Traders should now look for long-biased trades in FRBK as long as it's trending above some near-term support levels at $4.32 or above its 200-day at $4.12 and then once it sustains a move or close above those breakout levels with volume that hits near or above 148,002 shares. If that breakout gets underway soon, then FRBK will set up to re-test or possibly take out its next major overhead resistance levels at $5.18 to $5.43, or even its 52-week high at $6.
Doral Financial (DRL) operates as the bank holding company for Doral Bank that provides retail banking services to general public and institutions. This stock closed up 1.2% to $7.26 in Thursday's trading session.
Thursday's Range: $7.15-$7.59
52-Week Range: $1.87-$22.22
Thursday's Volume: 493,000
Three-Month Average Volume: 1.02 million
From a technical perspective, DRL bounced modestly higher here with lighter-than-average volume. This stock recently pulled back from just over $7 to right above its 50-day moving average of $6.27. Shares of DRL are now starting to bounce higher above its 50-day and it's quickly moving within range of triggering a near-term breakout trade. That trade will hit if DRL manages to take out some near-term overhead resistance at $7.61 with high volume.
Traders should now look for long-biased trades in DRL as long as it’s trending above its 50-day at 6.27 and then once it sustains a move or close above $7.61 with volume that hits near or above 1.02 million shares. If that breakout hits soon, then DRL will set up to re-fill some of its previous gap-down-day zone from last August that started near $9. Any high-volume move above $9 to its 200-day moving average at $9.02 will then give DRL a chance to tag its next major overhead resistance levels at $9.29 to $9.93.
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.