3 Stocks Under $10 Making Big Moves Higher

DELAFIELD, Wis. (Stockpickr) -- As part of a daily routine as an active trader or investor, one should always be tracking the stocks in the market that are making the biggest percentage gains and the biggest percentage losses. 

Stocks that are making large moves to the upside 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.

ReneSola

ReneSola  (SOL), through its subsidiaries, manufactures and sells various solar power products. This stock is trading up 3.9% to $1.58 in Tuesday's trading session.

Tuesday's Range: $1.52-$1.62
52-Week Range: $1.20-$4.05
Tuesday's Volume: 518,000
Three-Month Average Volume: 913,533

From a technical perspective, SOL is ripping higher here right above its 50-day moving average of $1.36 with decent upside volume flows. This spike to the upside on Tuesday is starting to push shares of SOL within range of triggering a big breakout trade above some key near-term overhead resistance levels. That trade will hit if SOL manages to clear some near-term overhead resistance levels at $1.62 to $1.65 and then above some past resistance at $1.69 with high volume.

Traders should now look for long-biased trades in SOL as long as it's trending above some key near-term support levels at $1.45 or above its 50-day at $1.36 and then once it sustains a move or close above those breakout levels with volume that registers near or above 913,533 shares. If that breakout triggers soon, then SOL will set up to re-test or possibly take out its next major overhead resistance levels at $2 to its 200-day moving average of $2.15, or even $2.20 to $2.50.

BioLineRx

BioLineRx  (BLRX), a clinical stage biopharmaceutical development company, engages in identifying, in-licensing and developing therapeutic candidates that address unmet medical needs. This stock is trading up 4.3% to $2.18 in Tuesday's trading session.

Tuesday's Range: $2.13-$2.22
52-Week Range: $1.20-$3.28
Tuesday's Volume: 537,000
Three-Month Average Volume: 636,942

From a technical perspective, BLRX is spiking sharply higher here right above its 50-day moving average of $2.06 with decent upside volume flows. This spike to the upside on Tuesday is quickly starting to push shares of BLRX within range of triggering a major breakout trade above some key near-term overhead resistance levels. That trade will hit if BLRX manages to take out some key near-term overhead resistance levels at $2.23 to $2.30 with high volume.

Traders should now look for long-biased trades in BLRX as long as it's trending above its 50-day moving average of $2.06 or above more support at $2 to $1.90 and then once it sustains a move or close above those breakout levels with volume that registers near or above 636,942 shares. If that breakout triggers soon, then BLRX will set up to re-fill its previous gap-down-day zone from March that started at $3.28.

Perion Network

Perion Network  (PERI), a digital media company, provides products and services to consumers focusing on second wave adopters. This stock is trading up 2.1% to $3.26 in Tuesday's trading session.

Tuesday's Range: $3.16-$3.27
52-Week Range: $3.11-$11.45
Tuesday's Volume: 166,000
Three-Month Average Volume: 119,248

From a technical perspective, PERI is spiking higher here right above some near-term support at $3.13 with above-average volume. This stock recently formed a major bottoming chart pattern, since shares found buying interest at $3.11, $3.16 and $3.13. Shares of PERI are now starting to trend higher right above those support levels and it's beginning to move within range of triggering a near-term breakout trade above some key overhead resistance levels. That trade will trigger if PERI manages to take out some key near-term overhead resistance levels at $3.32 to its 50-day moving average of $3.35 with high volume.

Traders should now look for long-biased trades in PERI as long as it's trending above some key support levels at $3.13 or at $3.11 and then once it sustains a move or close above those breakout levels with volume that registers near or above 119,248 shares. If that breakout begins soon, then PERI will set up to re-test or possibly take out its next major overhead resistance levels at $3.77 to $3.90, or even $4.25.

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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