4 Oil and Gas Stocks Under $10 Making Big Moves

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.

Midstates Petroleum

Midstates Petroleum  (MPO) engages in the exploration, development and production of oil, natural gas liquids and natural gas in the U.S. This stock is trading up 1.8% to $1.10 in Tuesday's trading session.

Tuesday's Range: $1.08-$1.11
52-Week Range: $0.72-$7.50
Tuesday's Volume: 288,000
Three-Month Average Volume: 1.32 million

From a technical perspective, MPO is spiking modestly higher here right above some near-term support levels at $1.05 to its 50-day moving average of $1.03 with lighter-than-average volume. This stock has been attempting to carve out a near-term bottom over the last month, with shares finding buying interest at $1.04 to $1.05 a share. Following that possible bottom, shares of MPO have now started to spike higher and it's starting to trend within range of triggering a major breakout trade. That trade will trigger if MPO manages to take out some key near-term overhead resistance levels at $1.18 to $1.23 and then above $1.30 with high volume.

Traders should now look for long-biased trades in MPO as long as it's trending above those double bottom support levels or above its 50-day at $1.03 to even $1 a share and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.32 million shares. If that breakout kicks off soon, then MPO will set up to re-test or possibly take out its next major overhead resistance levels at $1.40 to $1.62, or even $1.90.

Bellatrix Exploration

Bellatrix Exploration (BXE) engages in the acquisition, exploration, development and production of oil and natural gas reserves in the provinces of Alberta, British Columbia and Saskatchewan. This stock is trading up 3.8% to $3.23 in Tuesday's trading session.

Tuesday's Range: $3.11-$3.25
52-Week Range: $1.86-$9.99
Tuesday's Volume: 316,000
Three-Month Average Volume: 1.03 million

From a technical perspective, BXE is ripping to the upside here right above some near-term support at $3 with lighter-than-average volume. This stock recently pulled back to its 50-day moving average and held some more key near-term support at $2.77 a share. Following that pullback, shares of BXE have now entered a new uptrend, with the stock ripping higher off that $2.77 low to its current intraday high of $3.25. That move has now pushed shares of BXE right on the cusp of triggering a major breakout trade. That trade will hit if BXE manages to take out some key overhead resistance levels at $3.25 to $3.28 with high volume.

Traders should now look for long-biased trades in BXE as long as it's trending above some near-term support levels at $3 or above its 50-day of $2.82 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.03 million shares. If that breakout hits soon, then BXE will set up to re-test or possibly take out its next major overhead resistance levels at $3.75 to $3.90 or even $4 to $4.28.

Seventy Seven Energy

Seventy Seven Energy  (SSE) provides oilfield services in the U.S. This stock is trading up 6.1% to $5.51 in Tuesday's trading session.

Tuesday's Range: $5.23-$5.52
52-Week Range: $0.02-$27.17
Tuesday's Volume: 361,000
Three-Month Average Volume: 1.23 million

From a technical perspective, SSE is ripping higher here right above some near-term support at $5.05 with lighter-than-average volume. This stock has been uptrending tremendously strong over the last two months, with shares ripping higher from its low of $2.79 to its recent high of $6.06. During that uptrend, shares of SSE have been consistently making higher lows and higher highs, which is bullish technical price action. this trend higher on Tuesday is now starting to push shares of SSE within range of triggering a major breakout trade above some key near-term overhead resistance levels. That trade will hit if SSE manages to take out some near-term overhead resistance levels at $5.56 to $6.06 with high volume.

Traders should now look for long-biased trades in SSE as long as it’s trending above some near-term support at $5.05 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.23 million shares. If that breakout gets going soon, then SSE will set up to re-test or possibly take out its next major overhead resistance levels $7 to $7.80, or even $9.

Vaalco Energy

Vaalco Energy  (EGY), an independent energy company, acquires, explores for, develops and produces crude oil and natural gas in the U.S. This stock is trading up 4.5% to $2.30 in Tuesday's trading session.

Tuesday's Range: $2.17-$2.35
52-Week Range: $2.00-$9.67
Tuesday's Volume: 514,000
Three-Month Average Volume: 1.53 million

From a technical perspective, EGY is ripping higher here and bucking the overall market weakness right above its new 52-week low of $2 a share with decent upside volume flows. This strong spike to the upside on Tuesday is now starting to push shares of EGY within range of triggering a major breakout trade above some key near-term overhead resistance levels. That trade will trigger if EGY manages to take out some key near-term overhead resistance levels at $2.50 to $2.53 and then above $2.62 with high volume.

Traders should now look for long-biased trades in EGY as long as it's trending above Tuesday's intraday low of $2.17 or above its new 52-week low of $2 and then once it sustains a move or close above those breakout levels with volume that registers near or above 1.53 million shares. If that breakout hits soon, then EGY will set up to re-test or possibly take out its next major overhead resistance levels at its 50-day moving average of $3 to $3.37, or even $3.50 to $4.

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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