4 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.

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.

Trevena

Trevena (TRVN), a clinical stage biopharmaceutical company, discovers, develops and intends to commercialize therapeutics for G protein coupled receptors. This stock closed up 6.8% to $6.42 in Tuesday's trading session.

Tuesday's Range: $5.52-$6.45
52-Week Range: $4.07-$9.95
Tuesday's Volume: 91,000
Three-Month Average Volume: 86,855

From a technical perspective, TRVN ripped sharply higher here right off its 50-day moving average of $5.43 with above-average volume. This sharp jump to the upside on Tuesday is quickly pushing shares of TRVN within range of triggering a major breakout trade. That trade will hit if TRVN manages to take out Tuesday's intraday high of $6.45 to some more key overhead resistance levels at $6.90 to $6.97 with high volume.

Traders should now look for long-biased trades in TRVN as long as it's trending above $6 or above its 50-day at $5.43 and then once it sustains a move or close above those breakout levels with volume that hits near or above 86,855 shares. If that breakout kicks off soon, then TRVN will set up to re-test or possibly take out its next major overhead resistance levels at $7.94 to $8.50.

Brightcove

Brightcove (BCOV) provides cloud-based services for video. This stock closed up 1.8% to $6.22 in Tuesday’s trading session.

Tuesday's Range: $6.10-$6.38
52-Week Range: $5.90-$16.25
Tuesday's Volume: 514,000
Three-Month Average Volume: 453,958

From a technical perspective, BCOV rose modestly higher here right above some near-term support level at $6 to $5.97 with above-average volume. This uptick higher on Tuesday is quickly pushing shares of BCOV within range of triggering a major breakout trade. That trade will hit if BCOV manages to take out some key near-term overhead resistance at $6.41 with high volume.

Traders should now look for long-biased trades in BCOV as long as it's trending above some key near-term support levels at $5.97 to $5.90 and then once it sustains a move or close above those breakout levels with volume that hits near or above 453,958 shares. If that breakout kicks off soon, then BCOV will set up to re-test or possibly take out its next major overhead resistance level at around $7. Any high-volume move above $7 will then give BCOV a chance to re-fill some of its previous gap-down-day zone from July that started at $10.35.

BioFuel Energy

BioFuel Energy (BIOF) closed up 2.1% to $9.65 in Tuesday’s trading session.

Tuesday's Range: $9.39-$9.75
52-Week Range: $1.13-$10.34
Tuesday's Volume: 158,000
Three-Month Average Volume: 508,986

From a technical perspective, BIOF trended modestly higher here with lighter-than-average volume. This move to the upside on Tuesday is starting to push shares of BIOF within range of triggering a near-term breakout trade. That trade will hit if BIOF manages to take out some near-term overhead resistance levels at $10 to its 52-week high at $10.34 with high volume.

Traders should now look for long-biased trades in BIOF as long as it's trending above some key near-term support at $9 or at $8.61 and then once it sustains a move or close above those breakout levels with volume that hits near or above 508,986 shares. If that breakout triggers soon, then BIOF will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $12 to $13.

Concert Pharmaceuticals

Concert Pharmaceuticals (CNCE), a clinical stage biopharmaceutical company, discovers and develops small molecule drugs for central nervous system disorders, renal disease, inflammation and cancer. This stock closed up 5.2% to $8.60 in Tuesday’s trading session.

Tuesday's Range: $8.10-$8.74
52-Week Range: $7.12-$16.26
Tuesday's Volume: 225,000
Three-Month Average Volume: 155,134

From a technical perspective, CNCE ripped higher here right off some near-term support at $8 with above-average volume. This sharp move to the upside on Tuesday is quickly pushing shares of CNCE within range of triggering a major breakout trade. That trade will hit if CNCE manages to take out its 50-day moving average of $8.81 to some more near-term overhead resistance at $9.05 with high volume.

Traders should now look for long-biased trades in CNCE as long as it's trending above Tuesday's intraday low of $8.10 or above $8 and then once it sustains a move or close above those breakout levels with volume that hits near or above 155,134 shares. If that breakout triggers soon, then CNCE will set up to re-test or possibly take out its next major overhead resistance levels at $10.44 to $10.87, or even $12.

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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