4 Stocks Under $10 in Breakout Territory: Mid-Con Energy, Scorpio Bulkers and More

 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 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.

Knightsbridge Shipping

Knightsbridge Shipping (VLCCF) engages in the seaborne transportation of dry bulk cargoes worldwide. This stock is trading up 7.1% to $4.66 in Thursday's trading session.

Thursday's Range: $4.33-$4.66
52-Week Range: $3.57-$16.32
Thursday's Volume: 234,000
Three-Month Average Volume: 942,146

From a technical perspective, VLCCF is ripping higher here right off its 50-day moving average of $4.41 with lighter-than-average volume. This stock recently formed a major bottoming chart pattern, since shares have found buying interest over the last two months each time it has pulled back right under $4 a share. Shares of VLCCF are now starting to rip higher right above those support levels and it's quickly moving within range of triggering a near-term breakout trade. That trade will hit if VLCCF manages to clear some key near-term overhead resistance levels at $4.74 to $5.09 with high volume.

Traders should now look for long-biased trades in VLCCF as long as it's trending above some key near-term support levels at $4 to $3.91 and then once it sustains a move or close above those breakout levels with volume that hits near or above 942,146 shares. If that breakout begins soon, then VLCCF will set up to re-test or possibly take out its next major overhead resistance levels at $5.69 to $6, or even $6.50 to $7.

Scorpio Bulkers

Scorpio Bulkers (SALT) , together with its subsidiaries, is engaged in the marine transportation of dry bulk commodities. This stock is trading up 5.2% to $2.20 in Thursday's trading session.

Thursday's Range: $2.07-$2.20
52-Week Range: $1.30-$10.33
Thursday's Volume: 464,000
Three-Month Average Volume: 2.71 million

From a technical perspective, SALT is ripping sharply higher here right off its 50-day moving average of $1.98 with lighter-than-average volume. This spike to the upside on Thursday is now quickly pushing shares of SALT within range of triggering a major breakout trade above some key near-term overhead resistance levels. That trade will hit if SALT manages to take out some key near-term overhead resistance levels at $2.20 to $2.29 and then above more resistance at $2.35 with high volume.

Traders should now look for long-biased trades in SALT as long as it's trending above some key near-term support at $1.92 and then once it sustains a move or close above those breakout levels with volume that hits near or above 2.71 million shares. If that breakout gets started soon, then SALT will set up to re-test or possibly take out its next major overhead resistance levels at $2.50 to $2.80, or even $3.11 to $3.50.

ITT Educational Services

ITT Educational Services (ESI) provides postsecondary degree programs in the U.S. This stock is trading up 6.3% to $8.42 in Thursday's trading session.

Thursday's Range: $7.80-$8.53
52-Week Range: $3.66-$36.06
Thursday's Volume: 287,000
Three-Month Average Volume: 489,592

From a technical perspective, ESI is ripping higher here with strong upside volume flows. This stock recently formed a double bottom chart pattern at $6.91 to $7.01. Following that bottom, shares of ESI have now started to spike higher and it's quickly moving within range of triggering a big breakout trade. That trade will hit if ESI manages to take out some key near-term overhead resistance at $8.38 to its 50-day moving average of $8.55 and then above $8.90 with high volume.

Traders should now look for long-biased trades in ESI as long as it's trending above those double bottom support levels and then once it sustains a move or close above those breakout levels with volume that hits near or above 489,592 shares. If that breakout triggers soon, then ESI will set up to re-test or possibly take out its next major overhead resistance levels at $10 to $10.83, or even its 200-day moving average of $11.31 to possibly $12.

Mid-Con Energy Partners

Mid-Con Energy Partners (MCEP) is engaged in the acquisition, exploitation, development and production of oil and natural gas properties in North America. This stock is trading up 2.8% to $6.17 in Thursday's trading session.

Thursday's Range: $5.70-$6.22
52-Week Range: $4.25-$24.39
Thursday's Volume: 119,000
Three-Month Average Volume: 482,751

From a technical perspective, MCEP is spiking higher here right around some near-term support at $5.88 and off its 50-day moving average of $5.87 with lighter-than-average volume. This stock has been uptrending over the last month and change, with shares moving higher from its low of $4.17 to its recent high of $7.07. During that uptrend, shares of MCEP have been making mostly higher lows and higher highs, which is bullish technical price action. This spike to the upside on Thursday is now quickly pushing shares of MCEP within range of triggering a big breakout trade. That trade will hit if MCEP manages to take out some key near-term overhead resistance at $6.59 to $7.07 and then above more resistance at $7.45 with high volume.

Traders should now look for long-biased trades in MCEP as long as it's trending above Thursday's intraday low of $5.70 and then once it sustains a move or close above those breakout levels with volume that registers near or above 482,751 shares. If that breakout triggers soon, then MCEP will set up to re-test or possibly take out its next major overhead resistance levels at $9 to $10, or even $11.

-- Written by Roberto Pedone in Delafield, Wis.

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This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.

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