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.

Mitel Networks

Mitel Networks (MITL) provides business communications and collaboration software and services primarily to the small-to-medium sized enterprise market in the U.S., Europe, the Middle East and Africa, Canada, Caribbean and Latin America and Asia-Pacific regions. This stock closed up 3.5% to $9.70 in Tuesday's trading session.

Tuesday's Range: $9.35-$9.75
52-Week Range: $3.25-$10.86
Tuesday's Volume: 413,000
Three-Month Average Volume: 338,969

From a technical perspective, MITL spiked higher here back above its 50-day moving average of $9.65 with above-average volume. This move has pushed shares of MITL into breakout territory, since this stock took out some near-term overhead resistance at $9.52 and its 50-day at $9.65. Market players should now look for a continuation move higher in the short-term if MITL manages to take out Tuesday's intraday high of $9.75 with high volume.

Traders should now look for long-biased trades in MITL as long as it's trending above Tuesday's low of $9.35 or above more near-term support at $9 and then once it sustains a move or close above $9.75 with volume that hits near or above 338,969 shares. If that move starts soon, then MITL will set up to re-test or possibly take out its next major overhead resistance level at its 52-week high of $10.86.

RadioShack

RadioShack (RSH) is engaged in the retail sale of consumer electronics goods and services. This stock closed up 4.5% to $1.37 in Tuesday's trading session.

Tuesday's Range: $1.31-$1.44
52-Week Range: $1.28-$4.36
Tuesday's Volume: 3.44 million
Three-Month Average Volume: 3.43 million

From a technical perspective, RSH spiked sharply higher here right above its recent 52-week low of $1.28 with above-average volume. This stock has been downtrending badly for the last two months, with shares dropping from its high of $2.79 to its recent low of $1.28. During that move, shares of RSH have been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of RSH are now starting to bounce higher off oversold levels since its current relative strength index reading is 29.88. Oversold can always get more oversold, but it's also an area where a stock can make a powerful bounce higher from.

Traders should now look for long-biased trades in RSH as long as it's trending above its 52-week low of $1.28 and then once it sustains a move or close above Tuesday's high of $1.43 to some more near-term overhead resistance at $1.50 with volume that hits near or above 3.43 million shares. If that move gets underway soon, then RSH will set up to re-test or possibly take out its next major overhead resistance levels at $1.80 to its 50-day moving average of $1.99.

TransGlobe Energy

TransGlobe Energy (TGA) is engaged in the exploration, development and production of oil and gas properties. This stock closed up 1.9% to $8.22 in Tuesday's trading session.

Tuesday's Range: $8.08-$8.28
52-Week Range: $5.52-$9.66
Thursday's Volume: 77,000
Three-Month Average Volume: 133,487

From a technical perspective, TGA spiked modestly higher here right above its 200-day moving average of $7.87 with lighter-than-average volume. This move briefly pushed shares of TGA into breakout territory, since the stock flirted with some near-term overhead resistance at $8.23. Shares of TGA tagged an intraday high of $8.28, before it closed just below that level at $8.22. Market players should now look for a continuation move higher in the short-term if TGA manages to take out Tuesday's high of $8.28 with strong upside volume.

Traders should now look for long-biased trades in TGA as long as it's trending above its 200-day at $7.87 or its 50-day at $7.61 and then once it sustains a move or close above $8.28 with volume that hits near or above 133,487 shares. If that move starts soon, then TGA will set up to re-test or possibly take out its next major overhead resistance levels at $8.50 to $8.69. Any high-volume move above those levels will then give TGA a chance to re-test or possibly take out its 52-week high of $9.66.

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.

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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.

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