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.
Net 1 Ueps Technologies
Net 1 Ueps Technologies(UEPS) - Get Report provides payment solutions and transaction processing services for various industries in South Africa, Korea, Europe and internationally. This stock closed up 4% to $9.88 in Tuesday's trading session.
Tuesday's Range: $9.52-$9.92
52-Week Range: $5.38-$13.00
Thursday's Volume: 140,000
Three-Month Average Volume: 179,776
From a technical perspective, UEPS trended sharply higher here right off $9.50 with lighter-than-average volume. This move is quickly pushing shares of UEPS within range of triggering a major breakout trade. That trade will hit if UEPS manages to take out Tuesday's high of $9.92 to some more near-term overhead resistance at $10.19 with high volume.
Traders should now look for long-biased trades in UEPS as long as it's trending above $9.50 or above its 200-day at $9.07 and then once it sustains a move or close above those breakout levels with volume that hits near or above 179,776 shares. If that breakout hits soon, then UEPS will set up to re-fill some of its previous gap-down-day zone from last November that started just above $11.50.
Gevo(GEVO) - Get Report, a renewable chemicals and biofuels company, focuses on the development and commercialization of alternatives to petroleum-based products based on isobutanol produced from renewable feedstocks. This stock closed up 0.01% to $1.32 in Tuesday's trading session.
Tuesday's Range: $1.27-$1.34
52-Week Range: $1.12-$2.75
Tuesdays Volume: 441,000
Three-Month Average Volume: 1.54 million
From a technical perspective, GEVO trended modestly higher here right above some near-term support at $1.26 with lighter-than-average volume. This stock recently formed a triple bottom chart pattern at $1.25, $1.20 and $1.26. Shares of GEVO are now starting to trend higher off those support levels and it's quickly moving within range of triggering a big breakout trade. That trade will hit if GEVO manages to take out its 50-day at $1.37 to more near-term resistance at $1.46 with high volume.
Traders should now look for long-biased trades in GEVO as long as it's trending above $1.26 or $1.20 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.54 million shares. If that breakout hits soon, then GEVO will set up to re-fill some of its previous gap-down-day zone from last December that started just above $1.70.
Synthesis Energy Systems
Synthesis Energy Systems (SYMX) , a development-stage energy and gasification technology company, provides various proprietary gasification technology systems and solutions to the energy and chemical industries worldwide. This stock closed up 2.6% to $1.21 in Tuesday's trading session.
Tuesday's Range: $1.18-$1.30
52-Week Range: $0.60-$1.49
Tuesday's Volume: 643,000
Three-Month Average Volume: 282,994
From a technical perspective, SYMX spiked notably higher here with above-average volume. This move briefly pushed shares of SYMX into breakout territory, since the stock flirted with some near-term overhead resistance at $1.27 to $1.30. Shares of SYMX closed just below those levels at $1.21. Market players should now look for a continuation move higher in the short-term if SYMX manages to take out Tuesday's high of $1.31 to its 52-week high at $1.49 with high volume.
Traders should now look for long-biased trades in SYMX as long as it's trending above Tuesday's low of $1.18 or above more support at $1.10 and then once it sustains a move or close above $1.31 to $1.49 with volume that hits near or above 282,994 shares. If we get that move soon, then SYMX will set up to enter new 52-week-high territory above $1.49, which is bullish technical price action. Some possible upside targets off that move are its next major overhead resistance levels at $1.88 to $2, or $2.20.
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.