DELAFIELD, Wis. (Stockpickr) -- As part of a daily routine as an active trader or investor, one should always be tracking the stocks in the market that are making the biggest percentage gains and the biggest percentage losses.
Stocks that are making large moves to the upside 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 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.
Infosonics (IFON) designs, develops, manufactures and sells wireless telecommunication products and accessories to wireless carriers, distributors, and OEMs. This stock is trading up 1.5% to $2.71 in Thursday's trading session.
Thursday's Range: $2.69-$2.79
52-Week Range: $1.06-$3.84
Thursday's Volume: 43,000
Three-Month Average Volume: 305,619
From a technical perspective, IFON is trending higher here and showing some relative strength versus the overall market weakness right above its 50-day moving average of $2.52 with lighter-than-average volume. This bump to the upside on Thursday is now starting to push shares of IFON within range of triggering a major breakout trade above some key near-term overhead resistance levels. That breakout will trigger if IFON manages to take out some key overhead resistance levels at $2.80 to $2.89 a share and then above $2.94 share with high volume.
Traders should now look for long-biased trades in IFON as long as it's trending above its 50-day moving average of $2.52 and then once it sustains a move or close above those breakout levels with volume that hits near or above 305,619 shares. If that breakout materializes soon, then IFON will set up to re-test or possibly take out its next major overhead resistance levels at $3.18 to its 52-week high of $3.84.
BioDelivery Sciences International
BioDelivery Sciences International (BDSI) - Get Report, a specialty pharmaceutical company, engages in the development and commercialization of pharmaceutical products principally in the areas of pain management and addiction. This stock is trading up 2.6% to $8.51 in Thursday's trading session.
Thursday's Range: $8.24-$8.66
52-Week Range: $7.28-$18.48
Thursday's Volume: 379,000
Three-Month Average Volume: 1.31 million
From a technical perspective, BDSI is trending higher here right off its 20-day moving average of $8.21 with lighter-than-average volume. This counter-trend move higher versus the overall market decline has now started to push shares of BDSI within range of triggering a major breakout trade above a key downtrend line. That trade will hit if BDSI manages to take out some key overhead resistance levels at $8.61 to around $9 with high volume.
Traders should now look for long-biased trades in BDSI as long as it's trending above its 20-day at $8.21 or above more near-term support at $8 and then once it sustains a move or close above those breakout levels with volume that registers near or above 1.31 million shares. If that breakout hits soon, then BDSI will set up to re-test or possibly take out its next major overhead resistance levels at $10 to $10.54, or even $11 a share. Any high-volume move above $11 will then give BDSI a chance to re-fill some of its previous gap-down-day zone form March that started at $14.
RXi Pharmaceuticals (RXII) , a biotechnology company, focuses on discovering and developing therapies primarily in the areas of dermatology and ophthalmology. This stock is trading up 0.10% to 39 cents per share in Thursday's trading session.
Thursday's Range: $0.37-$0.395
52-Week Range: $0.34-$3.98
Thursday's Volume: 1.50 million
Three-Month Average Volume: 1.44 million
From a technical perspective, RXII is trending modestly higher here right above some near-term support at 38 to 36 cents per share with above-average volume. This stock has been uptrending a bit over the last few weeks, with shares moving higher from its low of 34 cents to its intraday high of 39 cents per share. During that move, shares of RXII have been consistently making higher lows and higher highs, which is bullish technical price action. This stock is now starting to move within range of triggering a near-term breakout trade. That trade will hit if RXII manages to take out some near-term overhead resistance levels at 39 to 40 cents per share with high volume.
Traders should now look for long-biased trades in RXII as long as it's trending above some near-term support levels at 38 to 36 cents per share and then once it sustains a move or close 39 to 40 cents per share with volume that hits near or above 1.44 million shares. If that breakout triggers soon, then RXII will set up to re-fill some of its previous gap-down-day zone from May that started near 50 cents per share, or it could even touch 54 to 60 cents per share.
This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.