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.

Amedica

Amedica  (AMDA), a commercial-stage biomaterial company, develops, manufactures and sells a range of medical devices based on its silicon nitride technology platform in the U.S., Europe and South America. This stock is trading up 6.5% to 37 cents per share in Thursday's trading session.

Thursday's Range: $0.34-$0.37
52-Week Range: $0.20-$4.96
Thursday's Volume: 2.35 million
Three-Month Average Volume: 2.38 million

From a technical perspective, Amedica is ripping sharply higher here with strong upside volume flows. This stock has been uptrending over the last month and change, with shares moving to the upside from its low of 21 cents per share to its intraday high of 37 cents per share. During that uptrend, this stock has been consistently making higher lows and higher highs, which is bullish technical price action. This spike higher on Thursday is now starting to push Amedica within range of triggering a major breakout trade. That trade will trigger if this stock manages to take out some near-term overhead at 38 cents per share with high volume.

Traders should now look for long-biased trades in Amedica as long as it's trending above some near-term support levels at 33 to 32 cents per share and then once it sustains a move or close above 38 cents per share with volume that hits near or above 2.38 million shares. If that breakout triggers soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at 47 cents to 50 cents per share, or even 60 cents per share.

Cliffs Natural Resources

Cliffs Natural Resources  (CLF), a mining and natural resources company, produces iron ore and metallurgical coal. This stock is trading up 3.7% to $5.46 in Thursday's trading session.

Thursday's Range: $5.23-$5.48
52-Week Range: $4.12-$18.41
Thursday's Volume: 4.24 million
Three-Month Average Volume: 9.79 million

From a technical perspective, Cliffs Natural Resources is ripping higher here back above its 50-day moving average of $5.42 with decent upside volume flows. This stock has recently started to bounce to the upside right off some near-term support at $5 a share. That bounce is starting to push shares of Cliffs Natural Resources within range of triggering a major breakout trade above some key near-term overhead resistance levels. That trade will trigger if this stock manages to take out some near-term overhead resistance levels at $5.66 to around $5.80 with high volume.

Traders should now look for long-biased trades in Cliffs Natural Resources as long as it's trending above some key support at $5 and then once it sustains a move or close above those breakout levels with volume that hits near or above 9.79 million shares. If that breakout hits soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $6.40 to $6.87, or even $7.28 to $7.40.

Kandi Technologies

Kandi Technologies  (KNDI), through its subsidiaries, designs, develops, manufactures and commercializes electric vehicles, EV parts and off-road vehicles in the People's Republic of China and internationally. This stock is trading up 5.1% to $9.74 in Thursday's trading session.

Thursday's Range: $9.28-$9.87
52-Week Range: $8.52-$22.49
Thursday's Volume: 556,000
Three-Month Average Volume: 804,802

From a technical perspective, Kandi Technologies is ripping sharply higher here right above some near-term support at $8.95 with lighter-than-average volume. This stock recently dropped sharply from $12.70 to its low of $8.52 a share. During that drop, shares of Kandi Technologies were consistently making lower highs and lower lows, which is bearish technical price action. That said, this stock has now started to bounce off that $8.52 low and more importantly bounce off more support at $8.95. That bounce is now quickly pushing this stock within range of triggering a near-term breakout trade. That breakout will hit if Kandi Technologies manages to take out some key near-term overhead resistance at $10.28 with high volume.

Traders should now look for long-biased trades in this stock as long as it's trending above some key near-term support at $8.95 and then once it sustains a move or close above $10.28 with volume that hits near or above 804,802 shares. If that breakout develops soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at its 50-day moving average of $11.11 to $12 a share.

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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