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 today.
Baltic Trading (BALT) operates a fleet of dry bulk ships that transport iron ore, coal, grain, steel products and other dry bulk cargoes.. This stock closed up 5.5% to $5.72 in Thursday's trading session.
Thursday's Range: $5.39-$5.80
52-Week Range: $2.85-$5.80
Thursday's Volume: 1.13 million
Three-Month Average Volume: 1.08 million
From a technical perspective, BALT soared higher here with above-average volume. This move briefly pushed shares of BALT into breakout and new 52-week-high territory, since this stock flirted with some near-term overhead resistance at $5.75. Shares of BALT hit an intraday high of $5.80 before closing just below that level $5.72. Market players should now look for a continuation move higher in the short-term if BALT can manage to take out Thursday's high of $5.80 with high volume.
Traders should now look for long-biased trades in BALT as long as its trending above Thursday's low of $5.39 or above its 50-day at $5 and then once it sustains a move or close above $5.80 with volume that hits near or above 1.08 million shares. If we get that move soon, then BALT will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $6.50 to $7.50.
Tianli Agritech (OINK) raises, breeds and markets hogs. The company sells its products to distributors and large-scale swine farms. This stock closed up 3.5% to $2.31 in Thursday's trading session.
Thursday's Range: $2.22-$2.31
52-Week Range: $0.50-$2.47
Thursday's Volume: 15,000
Three-Month Average Volume: 148,922
From a technical perspective, OINK spiked notably higher here right above some near-term support at $2.07 with lighter-than-average volume. This stock has been uptrending strong for the last two months and change, with shares moving higher from its low of 75 cents per share to its recent high of $2.47. During that move, shares of OINK have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of OINK within range of triggering a major breakout trade. That trade will hit if OINK manages to take out some near-term overhead resistance levels at $2.34 to its 52-week high at $2.47 with high volume.
Traders should now look for long-biased trades in OINK as long as it's trending above some key near-term support at $2.07 or above its 50-day at $1.85 and then once it sustains a move or close above those breakout levels with volume that hits near or above 148,922 shares. If that breakout triggers soon, then OINK will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $3 to $3.50.
LightIn TheBox (LITB), an online retailing company, offers products in the three core categories of apparel, small accessories and gadgets, and home and garden. This stock closed up 5.7% to $8.12 in Thursday's trading session.
Thursday's Range: $7.50-$8.28
52-Week Range: $6.18-$23.38
Thursday's Volume: 734,000
Three-Month Average Volume: 504,100
From a technical perspective, LITB spiked sharply higher here and broke out above some near-term overhead resistance $7.83 with above-average volume. This move is quickly pushing shares of LITB within range of triggering another big breakout trade. That trade will hit if LITB manages to take out Thursday's high of $8.28 and its 50-day moving average of $8.64 with high volume.
Traders should now look for long-biased trades in LITB as long as it's trending above Thursday's low of $7.50 or above more support at $7 and then once it sustains a move or close above those breakout levels with volume that hits near or above 504,100 shares. If that breakout hits soon, then LITB will set up to re-fill some of its previous gap down zone from November that started at $10.89.
To see more stocks that are making notable moves higher today, check out the Stocks Under $10 Moving Higher portfolio on Stockpickr.
-- Written by Roberto Pedone in Delafield, Wis.
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.