3 Stocks Under $10 Making Big Moves

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

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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.

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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

Walter Energy (WLT) produces and exports metallurgical coal for the steel industry. This stock closed up 4.7% to $8.35 in Tuesday's trading session.

Tuesday's Range: $8.02-$8.70
52-Week Range: $7.07-$26.00
Tuesday's Volume: 6.13 million
Three-Month Average Volume: 6.86 million

From a technical perspective, WLT spiked higher here right above some near-term support at $7.87 with decent upside volume. This stock has been uptrending a bit over the last few weeks, with shares moving higher from its low of $7.07 to its recent high of $8.65. During that move, shares of WLT have been consistently making higher lows and higher highs, which is bullish technical price action. Market players should now look for a continuation move higher in the short-term if WLT manages to take out Tuesday's high of $8.70 with strong volume.

Traders should now look for long-biased trades in WLT as long as it's trending above that $7.87 support level and then once it sustains a move or close above $8.70 with volume that hits near or above 6.86 million shares. If that move gets underway soon, then WLT will set up to re-fill some of its previous gap-down-day zone from March that started near $9.50. If that gap gets filled with strong upside volume flows, then WLT could easily tag $11.

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