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 today.
Chelsea Therapeutics
Chelsea Therapeutics (CHTP) is a specialty pharmaceutical company focused on acquisition, development and commercialization of pharmaceutical products for the treatment of a variety of human diseases. This stock closed up 1.7% to $2.96 in Thursday's trading session.
Thursday's Range: $2.92-$3.01
52-Week Range: $0.73-$3.30
Thursday's Volume: 982,000
Three-Month Average Volume: 943,154
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From a technical perspective, CHTP spiked modestly higher here right off some near-term support at $2.90 with above-average volume. This move briefly pushed shares of CHTP above its 50-day moving average of $2.97, before the stock closed just below that level at $2.96. This move is now starting to push shares of CHTP within range of triggering a major breakout trade. That trade will hit if CHTP manages to take out some near-term overhead resistance levels at $3.07 to $3.18 and then once it takes out its 52-week high at $3.30 with high volume.
Traders should now look for long-biased trades in CHTP as long as it's trending above some near-term support at $2.80 or at $2.70 and then once it sustains a move or close above those breakout levels with volume that hits near or above 943,154 shares. If that breakout hits soon, then CHTP will set up to enter new 52-week-high territory above $3.30, which is bullish technical price action. Some possible upside targets off that breakout are its next major overhead resistance levels at $4.20 to $4.40, or even $5.
Synta Pharmaceuticals
Synta Pharmaceuticals (SNTA) is a biopharmaceutical company engaged in discovering, developing an 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 2.7% to $6.84 in Thursday's trading session.
Thursday's Range: $6.63-$6.90
52-Week Range: $3.76-$11.88
Thursday's Volume: 1.18 million
Three-Month Average Volume: 1.58 million
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From a technical perspective, SNTA rose modestly higher here right above its 50-day moving average of $6.39 with decent upside volume. This stock has been trending sideways and consolidating for the last three months, with shares moving between $5.55 on the downside and $7.85 on the upside. Shares of SNTA are now starting to trend within range of triggering a breakout trade above the upper-end of its recent sideways trading chart pattern. That breakout will hit if SNTA manages to clear some near-term overhead resistance levels at $7.10 to $7.30, and then once it clears its 200-day moving average of $7.54 with high volume.
Traders should now look for long-biased trades in SNTA as long as it's trending above its 50-day at $6.39 or above $6 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.58 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 $7.85 to $8.25. Any high-volume move above those levels will then put $9 into range for shares of SNTA.
Xoma
Xoma (XOMA) is a biopharmaceutical company engaged in the discovery, development and manufacture of therapeutic antibodies and other agents designed to treat inflammatory, autoimmune, infectious and oncological diseases. This stock closed up 3.4% to $4.84 in Thursday's trading session.
Thursday's Range: $4.66-$4.86
52-Week Range: $2.37-$5.54
Thursday's Volume: 1.13 million
Three-Month Average Volume: 1.20 million
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From a technical perspective, XOMA spiked higher here right off its 50-day moving average of $4.61 with decent upside volume. This move is quickly pushing shares of XOMA within range of triggering a near-term breakout trade. That trade will hit if XOMA manages to take out some near-term overhead resistance at $4.91 with high volume.
Traders should now look for long-biased trades in XOMA as long as it's trending above its 50-day at $4.61 or above more key near-term support at $4.30 and then once it sustains a move or close above $4.91 with volume that hits near or above 1.20 million shares. If that breakout hits soon, then XOMA will set up to re-test or possibly take out its 52-week high at $5.54. Any high-volume move above that level will then give XOMA a chance to tag $6 to $6.50.
Dyax
Dyax (DYAX) is a biotechnology company engaged in the discovery, development and commercialization of biopharmaceuticals for unmet medical needs. This stock closed up 4.2% to $6.80 in Thursday's trading session.
Thursday's Range: $6.45-$6.82
52-Week Range: $2.26-$7.28
Thursday's Volume: 1.09 million
Three-Month Average Volume: 915,237
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From a technical perspective, DYAX ripped higher here right above some near-term support at $6.22 with above-average volume. This stock has been trending sideways and consolidating for the last month, with shares moving between $6.13 on the downside and $7.28 on the upside. This move on Thursday is quickly pushing shares of DYAX within range of triggering a major breakout trade above the upper-end of its recent range. That breakout will hit if DYAX manages to take out some near-term overhead resistance levels at $7.07 to its 52-week high at $7.28 with high volume.
Traders should now look for long-biased trades in DYAX as long as it's trending above some near-term support at $6.22 or above its 50-day at $5.68 and then once it sustains a move or close above those breakout levels with volume that hits near or above 915,237 shares. If that breakout hits soon, then DYAX will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $10 to $12.
Aveo Pharmaceuticals
Aveo Pharmaceuticals (AVEO) is a biopharmaceutical company involved in discovering, developing and commercializing novel cancer therapeutics. This stock closed up 5% to $2.29 in Thursday's trading session.
Thursday's Range: $2.12-$2.35
52-Week Range: $2.01-$8.94
Thursday's Volume: 1.41 million
Three-Month Average Volume: 516,802
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From a technical perspective, AVEO jumped higher here right off its 50-day moving average of $2.14 with heavy upside volume. This move pushed shares of AVEO into breakout territory, since the stock took out some near-term overhead resistance at $2.23. Shares of AVEO are now quickly moving within range of triggering an even bigger breakout trade. That trade will hit if AVEO manages to clear some more near-term overhead resistance levels at $2.36 to $2.37 with high volume.
Traders should now look for long-biased trades in AVEO as long as it's trending above its 50-day at $2.14 and then once it sustains a move or close above those breakout levels with volume that hits near or above 516,802 shares. If that breakout hits soon, then AVEO will set up to re-test or possibly take out its next major overhead resistance levels at $2.83 to $3.08. Any high-volume move above those levels will then give AVEO a chance to re-fill some of its previous gap down zone from May that started just above $5.50.
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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