3 Stocks Under $10 Moving Higher

WINDERMERE, Fla. ( Stockpickr) -- At Stockpickr, we track daily portfolios of stocks that are the biggest percentage gainers and the biggest percentage losers.

Stocks that are making large-percentage 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 moves either up or down are usually in play because their sector is becoming attractive or they have a major fundamental catalyst like a recent earnings release. Sometimes stocks making big moves have been hit with an analyst upgrade or an analyst upgrade.

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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.

Let's take a closer look at a number of stocks under $10 that are making large-percentage moves to the upside today.

Rare Element Resources

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Rare Element Resources ( REE) engages in the acquisition, exploration, and development of mineral properties in the U.S. and Canada. This stock is trading up 10.9% at $6.33 in recent trading.

Today's Range: $5.77-$6.62

52-Week Range: $3.08-$16.55

Volume: 4.9 million Three-Month Average Volume: 1.99 million

From a technical perspective, REE has started to move back above its 50-day moving average of $6.05 today on monster volume.

Market players should now watch for the next big breakout trade to trigger once REE takes out some near-term overhead resistance at $6.80, and then its 200-day at $7.26. If we get that action, traders should continue to look for long biased trades since the next major overhead resistance level won't come into play under $8.

Agilysys

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Agilysys ( AGYS) is a provider of information technology solutions to corporate and public-sector customers, with special expertise in select markets, including retail and hospitality. This stock is trading up 12.8% to $9.32 in recent trading.

Today's Range: $8.37-$9.40

52-Week Range: $4.43-$10.00

Volume: 249,000

Three-Month Average Volume: 112,562

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From a technical perspective, AGYS is ripping higher today on above average volume. This move has now pushed the stock within range of triggering a big breakout trade.

Traders should now watch AGYS to break out above some overhead resistance levels at $9.54 to $10 with high-volume. A sustained high-volume move and close above those levels should set this stock up for much higher prices. Look for volume on that move that's near or well above 112,562 shares.

MGPI Processing

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MGPI Processing ( MGPI) processes flour and corn into a variety of products through an integrated production process. This stock is trading up 4.5% to $6.30 in recent trading.

Today's Range: $6.05-$6.76

52-Week Range: $4.25-$9.10

Volume: 49,000

Three-Month Average Volume: 22,385

From a technical perspective, MGPI is ripping higher today back above its 200-day moving average of $6.25 on above average volume. This move has now pushed MGPI within range of triggering a breakout trade.

Traders should now watch for a sustained high-volume move and close above $6.75 to $7.14 to signal that this stock wants to move higher. Look for volume that's near or well above 22,385 shares. If we get that action soon, then MGPI has a good chance of tagging $8.

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At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on stocks, options, futures, commodities and currencies. He is also an outside contributor to Beconequity.com and maintains the website Maddmoney.net, which he sold to Blue Wave Advisors in 2008. Roberto studied International Business at The Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany.