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.
Walter Energy (WLT) produces and exports metallurgical coal for the steel industry. This stock closed up 6.9% to $5.51 in Wednesday's trading session.
Wednesday's Range: $5.15-$5.57
52-Week Range: $4.25-$19.50
Wednesday's Volume: 5.88 million
Three-Month Average Volume: 5.67 million
From a technical perspective, WLT ripped sharply higher here right above some near-term support at $5 with above-average volume. This move pushed shares of WLT into breakout territory, since the stock took out some near-term overhead resistance at $5.29. Market players should now look for a continuation move to the upside in the short-term if WLT manages to clear Wednesday's intraday high of $5.57 with strong upside volume flows.
Traders should now look for long-biased trades in WLT as long as it's trending above near-term support at $5 and then once it sustains a move or close above $5.29 with volume that hits near or above 5.67 million shares. If that move starts soon, then WLT will set up to re-test or possibly take out its next major overhead resistance levels at $6 to its 50-day at $6.31, or even $7.
Liquid Holding (LIQD) provides proprietary cloud-based trading and portfolio management solution primarily in the U.S. This stock closed up 2% to $1.47 in Wednesday's trading session.
Wednesday's Range: $1.44-$1.50
52-Week Range: $1.20-$10.30
Wednesday's Volume: 385,000
Three-Month Average Volume: 854,123
From a technical perspective, LIQD bounced modestly higher here right above some near-term support at $1.38 with lighter-than-average volume. This stock recently formed a double bottom chart pattern at $1.40 to $1.38. Following that bottom, shares of LIQD have started to spike higher and move within range of triggering a major breakout trade. That trade will hit if LIQD manages to take out some key near-term overhead resistance levels at $1.51 to $1.64 and then once it takes out more resistance at $1.72 with high volume.
Traders should now look for long-biased trades in LIQD as long as it's trending above those double bottom support levels and then once it sustains a move or close above those breakout levels with volume that hits near or above 854,123 shares. If that breakout kicks off soon, then LIQD will set up to re-test or possibly take out its next major overhead resistance level at $1.95. Any high-volume move above $1.95 will then give LIQD a chance to re-fill some of its previous gap-down-day zone from May that started above $2.50.
OXiGene (OXGN) , a clinical-stage biopharmaceutical company, develops therapeutics primarily to treat cancer. This stock closed up 2.7% to $2.66 in Wednesday's trading session.
Wednesday's Range: $2.55-$2.73
52-Week Range: $1.96-$5.40
Wednesdays Volume: 374,000
Three-Month Average Volume: 813,998
From a technical perspective, OXGN spiked notably higher here right above some near-term support at $2.52 with lighter-than-average volume. This spike higher on Wednesday is starting to push shares of OXGN within range of triggering a near-term breakout trade. That trade will hit if OXGN manages to take out some near-term overhead resistance levels at $2.77 to its 50-day moving average of $2.89 with high volume.
Traders should now look for long-biased trades in OXGN as long as it's trending above some key near-term support levels at $2.52 or at $2.41 and then once it sustains a move or close above those breakout levels with volume that hits near or above 813,998 shares. If that breakout hits soon, then OXGN will set up to re-test or possibly take out its next major overhead resistance levels at $3.20 to $3.40, or even $3.60 to $4.
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.