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.
Advaxis (ADXS), a clinical development stage biotechnology company, engages in the development of immunotherapies for cancer and infectious diseases. This stock closed up 7.8% to $4.70 a share in Thursday's trading session.
Thursday's Range: $4.35-$4.73
52-Week Range: $2.88-$5.70
Thursday's Volume: 119,000
Three-Month Average Volume: 234,271
From a technical perspective, ADXS spiked sharply higher here right off its 50-day moving average of $4.31 and back above its 200-day moving average of $4.63 with lighter-than-average volume. This move is quickly pushing shares of ADXS within range of triggering a near-term breakout trade. That trade will hit if ADXS manages to take out some near-term overhead resistance levels at $4.78 to $5 with high volume.
Traders should now look for long-biased trades in ADXS as long as it's trending above some near-term support at $4 and then once it sustains a move or close above those breakout levels with volume that hits near or above 234,271 shares. If that breakout hits soon, then ADXS will set up to re-test or possibly take out its next major overhead resistance levels at $5.70 to $5.83.
Idera Pharmaceuticals (IDRA), a clinical stage biotechnology company, engages in the discovery and development of novel synthetic DNA- and RNA- based drug candidates. This stock closed up 6.1% to $4.84 in Thursday's trading session.
Thursday's Range: $4.59-$5.15
52-Week Range: $0.19-$5.55
Thursday's Volume: 5.56 million
Three-Month Average Volume: 2.05 million
From a technical perspective, IDRA ripped higher here with heavy upside volume. This move briefly pushed shares of IDRA into breakout territory, since the stock flirted with some near-term overhead resistance at $4.94. Shares of IDRA tagged an intraday high of $5.15 before closing just below that level at $4.94. Market players should now look for a continuation move higher in the short-term if IDRA manages to take out Thursday's high of $5.15 with strong volume.
Traders should now look for long-biased trades in IDRA as long as it's trending above Thursday's low of $4.59 or above $4.25 and then once it sustains a move or close above $5.15 with volume that hits near or above 2.05 million shares. If we get that move soon, then IDRA will set up to re-test or possibly take out its 52-week high at $5.55. Any high-volume move above that level will then give IDRA a chance to tag $6 to $6.75.
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.