DELAFIELD, Wis. (Stockpickr) -- At Stockpickr, we track daily portfolios of stocks that are the biggest percentage gainers and the biggest percentage losers.
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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.
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With that in mind, let's take a closer look at a several stocks under $10 that are making large moves to the upside recently.
Synta Pharmaceuticals
Synta Pharmaceuticals (SNTA) is a biopharmaceutical company engaged in discovering, developing and commercializing small molecule drugs to extend and enhance the lives of patients with severe medical conditions such as cancer and chronic inflammatory diseases. This stock closed up 6.5% to $6.53 in Thursday's trading session.
Thursday's Range: $6.17-$6.64
52-Week Range: $3.76-$11.88
Thursday's Volume: 1.02 million
Three-Month Average Volume: 1.79 million
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From a technical perspective, SNTA bounced sharply higher here right off its 50-day moving average of $6.26 with decent upside volume. This stock recently pulled back from its high of $7.30 to its low of $5.90. Shares of SNTA are now starting to move back above its 50-day and within range of triggering a near-term breakout trade. That trade will hit if SNTA manages to take out some key overhead resistance levels at $7.30 to $7.85 with high volume.
Traders should now look for long-biased trades in SNTA as long as it's trending above its 50-day at $6.26 or above support at $5.90 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.79 million shares. If that breakout hits soon, then SNTA will set up to re-test or possibly take out its next major overhead resistance levels at $8.25 to $9.
BioCryst Pharmaceuticals
BioCryst Pharmaceuticals (BCRX) is a biotechnology company that designs, optimizes and develops novel drugs that block key enzymes involved in cancer, viral infections and autoimmune diseases. This stock closed up 3.4% to $7.24 in Thursday's trading session.
Thursday's Range: $6.96-$7.25
52-Week Range: $1.08-$7.41
Thursday's Volume: 1.39 million
Three-Month Average Volume: 2.51 million
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From a technical perspective, BCRX jumped higher here with lighter-than-average volume. This stock has been trending sideways and consolidating for the last month and change, with shares moving between $6.07 on the downside and $7.41 on the upside. Shares of BCRX are now quickly moving within range of triggering a breakout trade above the upper-end of its recent sideways trading chart pattern. That trade will hit if BCRX manages to take out Thursday's high at $7.25 and its 52-week high at $7.41 with high volume.
Traders should now look for long-biased trades in BCRX as long as it's trending above some near-term support at $6.50 or at $6.07, and then once it sustains a move or close above those breakout levels with volume that hits near or above 2.51 million shares. If that breakout hits soon, then BCRX will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $9 to $10.
Cardium Therapeutics
Cardium Therapeutics (CXM) is a medical technology company mainly develops and commercializes novel products and devices for cardiovascular and ischemic disease, wound healing and tissue repair. This stock closed up 1.1% to $1.80 in Thursday's trading session.
Thursday's Range: $0.72-$0.84
52-Week Range: $0.58-$4.80
Thursday's Volume: 261,021
Three-Month Average Volume: 68,300
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From a technical perspective, CXM bounced sharply higher here right off some near-term support at 72 cents with strong upside volume. This stock recently formed a double bottom chart pattern at 69 cents to 70 cents. Following that bottom, shares of CXM have started to rebound higher and move within range of triggering a major breakout trade. That trade will hit if CXM manages to take out some near-term overhead resistance levels at 86 cents to 92 cents, and then 96 cents with high volume.
Traders should now look for long-biased trades in CXM as long as it's trending above support at 70 cents and then once it sustains a move or close above those breakout levels with volume that hits near or above 68,300 shares. If that breakout hits soon, then CXM will set up to re-test or possibly take out its next major overhead resistance levels at $1.35.
To see more stocks that are making notable moves higher today, 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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