DELAFIELD, Wis. (Stockpickr) -- At Stockpickr, we track daily portfolios of stocks that are the biggest percentage gainers and the biggest percentage losers.
>>5 Stocks Set to Soar on Bullish Earnings
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.
>>5 Stocks Ready for Breakouts
With that in mind, let's take a closer look at a several stocks under $10 that are making large moves to the upside.
CytRx
CytRx (CYTR) operates as a biopharmaceutical research and development company specializing in oncology. This stock closed up 3.2% to $4.16 in Tuesday's trading session.
Tuesday's Range: $3.96-$4.19
52-Week Range: $1.95-$8.35
Tuesday's Volume: 905,981
Three-Month Average Volume: 2.14 million
From a technical perspective, CYTR bounced notably higher here right off its 200-day moving average of $3.92 with lighter-than-average volume. This stock has been uptrending strong for the last month and change, with shares moving higher from its low of $2.78 to its recent high of $4.29. During that uptrend, shares of CYTR have been making mostly higher lows and higher highs, which is bullish technical price action. This spike higher on Tuesday for CYTR is starting to push the stock within range of triggering a near-term breakout trade. That trade will hit if CYTR manages to take out Tuesday's high of $4.19 to some more key overhead resistance levels at $4.29 to $4.64 with high volume.
Traders should now look for long-biased trades in CYTR as long as it's trending above its 200-day at $3.92 or above more near-term support at $3.75 and then once it sustains a move or close above those breakout levels volume that hits near or above 2.14 million shares. If that breakout gets underway soon, then CYTR will set up to re-test or possibly take out its next major overhead resistance levels at $5.50 to $6, or even $6.50.
Rosetta Genomics
Rosetta Genomics (ROSG) develops and commercializes microRNAs based diagnostic tests and therapeutics. This stock closed up 4.1% to $4.02 a share in Tuesday's trading session.
Tuesday's Range: $3.81-$4.04
52-Week Range: $2.35-$6.69
Tuesday's Volume: 94,000
Three-Month Average Volume: 405,931
From a technical perspective, ROSG spiked higher here right above its 200-day moving average of $4.20 with lighter-than-average volume. This stock has been trending sideways and consolidating for the last month and change, with shares moving between $3.43 on the downside and $4.30 on the upside. This spike higher on Tuesday is starting to push shares of ROSG within range of triggering a near-term breakout trade above the upper-end of its recent sideways trading chart pattern. That trade will hit if ROSG manages to take out Tuesday's high of $4.04 to its 50-day moving average of $4.20 and then above $4.30 with high volume.
Traders should now look for long-biased trades in ROSG as long as it's trending above Tuesday's low of $3.81 or above its 200-day moving average of $3.63 and then once it sustains a move or close above those breakout levels with volume that hits near or above 405,931 shares. If that breakout triggers soon, then ROSG will set up to re-test or possibly take out its next major overhead resistance levels at $4.75 to $5, or even $5.50.
Zhone Technologies
Zhone Technologies (ZHNE) designs, develops, manufactures and sells communications network equipment for telecommunications, wireless, and cable operators worldwide. This stock closed up 4.6% to $3.18 in Tuesday's trading session.
Tuesday's Range: $2.90-$3.25
52-Week Range: $0.77-$6.62
Tuesday's Volume: 370,000
Three-Month Average Volume: 474,216
From a technical perspective, ZHNE spiked sharply higher here right off some near-term support at $2.90 with decent upside volume. This move briefly pushed shares of ZHNE into breakout territory, since the stock flirted with some near-term overhead resistance at $3.20. Shares of ZHNE tagged an intraday high of $3.25, before it closed just below that level at $3.18. Market players should now look for a continuation move to the upside in the short-term if ZHNE manages to take out Tuesday's intraday high of $3.25 to its 50-day moving average of $3.33 with high volume.
Traders should now look for long-biased trades in ZHNE as long as it's trending above some key support at $2.90 or at $2.75 and then once it sustains a move or close above those breakout levels with volume that hits near or above 474,216 shares. If that breakout kicks off soon, then ZHNE will set up to re-fill some of its previous gap-down-day zone from April that started at $4.24.
To see more stocks that are making notable moves higher, 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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