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.
Oncolytics Biotech (ONCY) - Get Oncolytics Biotech Inc. Report, a development stage biopharmaceutical company, focuses on the discovery and development of pharmaceutical products for the treatment of cancers. This stock closed up 5% to $1.88 in Thursday's trading session.
Thursday's Range: $1.74-$1.91
52-Week Range: $1.45-$3.50
Thursday's Volume: 1.31 million
Three-Month Average Volume: 495,420
From a technical perspective, ONCY jumped sharply higher here right above its 50-day moving average of $1.68 with strong upside volume. This stock just recently started to break out above some near-term overhead resistance levels at $1.79 to $1.80. Market players should now look for a continuation move higher in the short-term if ONCY manages to take out Thursday's high of $1.91 to some past overhead resistance at $1.92 with high volume.
Traders should now look for long-biased trades in ONCY as long as it's trending above its 50-day at $1.68 or above more support at $1.61 and then once it sustains a move or close above $1.91 to $1.92 with volume that hits near or above 495,420 shares. If we get that move soon, then ONCY will set up to re-test or possibly take out its next major overhead resistance level at $2. Any high-volume move above $2 will then give ONCY a chance to re-fill some of its previous gap-down-day zone from last November that started at $2.70.
Tianyin Pharmaceutical (TPI) , a pharmaceutical company, researches, manufactures, markets and sells biopharmaceutical medicines, branded generics, modernized traditional Chinese medicines and other pharmaceuticals in the People's Republic of China. This stock closed up 1.9% to $1.07 a share in Thursday's trading session.
Thursday's Range: $1.04-$1.08
52-Week Range: $0.48-1.44
Thursday's Volume: 315,000
Three-Month Average Volume: 279,392
From a technical perspective, TPI trended modestly higher here right above its 50-day moving average of $1.01 with above-average volume. This stock recently pulled back sharply from its high of $1.37 to its low of $1 with above-average volume flows. This stock has now started to find buying interest right above its 50-day moving average and strong upside volume flows starting to move back into the stock. Shares of TPI are now starting to trend within range of triggering a near-term breakout trade. That trade will hit if TPI manages to take out Thursday's high of $1.08 to some more near-term overhead resistance at $1.14 with high volume.
Traders should now look for long-biased trades in TPI as long as it's trending above its 50-day at $1.01 or above more near-term support at 98 cents per share and then once it sustains a move or close above those breakout levels with volume that hits near or above 279,392 shares. If that breakout kicks off soon, then TPI will set up to re-test or possibly take out its next major overhead resistance levels at $1.25 to $1.37, or even its 52-week high of $1.44.
Heat Biologics (HTBX) - Get Heat Biologics, Inc. Report, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of various cellular therapeutic vaccines for a range of cancers and infectious diseases. This stock closed up 7.7% to $7.37 a share in Thursday's trading session.
Thursday's Range: $6.84-$8.00
52-Week Range: $5.95-$15.29
Thursday's Volume: 63,000
Three-Month Average Volume: 20,793
From a technical perspective, HTBX spiked sharply higher here and broke out above some near-term overhead resistance at $7.15 with above-average volume. This move briefly pushed shares HTBX back above its 50-day moving average of $7.60 before the stock closed just below that level at $7.42. Market players should now look for a continuation move higher in the short-term if HTBX manages to take out Thursday's high of $8 with strong upside volume flows.
Traders should now look for long-biased trades in HTBX as long as it's trending above Thursday's low of $6.84 and then once it sustains a move or close above $8 with volume that hits near or above 20,793 shares. If that move starts soon, then HTBX will set up to re-test or possibly take out its next major overhead resistance levels at $8.50 to $9.17. Any high-volume move above those levels will then give HTBX a chance to tag $9.59 to $10.
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.