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.
Cache (CACH) , together with its subsidiaries, operates as a mall- and Web-based specialty retailer of women's lifestyle sportswear and dresses in the U.S. This stock closed up 9% to $5.80 in Thursday's trading session.
Thursday's Range: $5.53-$5.84
52-Week Range: $1.82-$6.83
Thursday's Volume: 422,000
Three-Month Average Volume: 81,833
From a technical perspective, CACH gapped sharply higher here back above its 50-day moving average of $5.39 with strong upside volume. This move briefly pushed shares of CACH into breakout territory, since the stock flirted with some near-term overhead resistance at $5.80. Shares of CACH tagged an intraday high of $5.84 before closing at $5.80. Market players should now look for a continuation move higher in the short-term if CACH can manage to take out Thursday's high of $5.84 with strong volume.
Traders should now look for long-biased trades in CACH as long as its trending above Thursday's low of $5.53 or above its 50-day at $5.39 and then once it sustains a move or close above $5.84 with volume that hits near or above 81,833 shares. If we get that move soon, then CACH will set up to re-test or possibly take out its next major overhead resistance levels at $6.42 to its 52-week high at $6.83.
Gyrodyne Co. of America
Gyrodyne Co. of America (GYRO) - Get Report, a real estate investment trust (REIT), engages in the investment, acquisition, ownership and management of a portfolio of medical office and industrial properties in the northeast region of the U.S. This stock closed up 6.7% to $8.86 a share in Thursday's trading session.
Thursday's Range: $8.34-$8.93
52-Week Range: $7.05-$80.04
Thursday's Volume: 325,000
Three-Month Average Volume: 179,935
From a technical perspective, GYRO spiked sharply higher here with above-average volume. This stock has been downtrending badly for the last few weeks, with shares plunging from its high of $20.41 to its recent low of $7.05. During that downtrend, shares of GYRO have been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of GYRO have now entered extremely oversold territory since its current relative strength index reading is 14.52. Oversold can always get more oversold, but it's also an area where a stock can make a powerful bounce higher from.
Traders should now look for long-biased trades in GYRO as long as it's trending above Thursday's low of $8.34 or above more support just below $8 and then once it sustains a move or close above Thursday's high of $8.93 with volume that hits near or above 179,935 shares. If we get that move soon, then GYRO will set up to re-test or possibly take out its next major overhead resistance levels at $10 to $11.
Tekmira Pharmaceuticals (TKMR) is a biopharmaceutical company focused on advancing ribonucleic acid interference therapeutics and providing its lipid nanoparticle delivery technology to pharmaceutical partners. This stock closed up 9.8% to $9.36 in Thursday's trading session.
Thursday's Range: $8.50-$9.51
52-Week Range: $4.18-$11.42
Thursday's Volume: 484,000
Three-Month Average Volume: 177,414
From a technical perspective, TKMR ripped sharply higher here and broke out above some near-term overhead resistance levels at $8.58 to $8.69 with above-average volume. This move is quickly pushing shares of TKMR within range of triggering another major breakout trade. That trade will hit if TKMR manages to take out Thursday's high of $9.51 to some past overhead resistance at $9.76 with high volume.
Traders should now look for long-biased trades in TKMR as long as its trending above Thursday's low of $8.50 and then once it sustains a move or close above those breakout levels with volume that hits near or above 177,414 shares. If that breakout hits soon, then TKMR will set up to re-test or possibly take out its next major overhead resistance levels near $10.50 to its 52-week high at $11.42.
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.