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.
Polymet Mining
Polymet Mining (PLM) is a Canadian mine development company focused on the NorthMet copper-nickel-precious metals project through its wholly owned subsidiary, PolyMet Mining, a Minnesota corporation. This stock closed up 0.59% to 85 cents per share in Tuesday's trading session.
Tuesday's Range: $0.83-$0.85
52-Week Range: $0.68-$1.09
Thursday's Volume: 119,000
Three-Month Average Volume: 343,231
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From a technical perspective, PLM bounced modestly higher here right above its 50-day moving average at 80 cents per share with lighter-than-average volume. This move is quickly pushing shares of PLM within range of triggering a near-term breakout trade. That trade will hit if PLM manages to take out some near-term overhead resistance at 88 cents per share with high volume.
Traders should now look for long-biased trades in PLM as long as it's trending above its 50-day at 80 cents per share and then once it sustains a move or close above 88 cents per share with volume that hits near or above 343,231 shares. If that breakout triggers soon, then PLM will set up to re-test or possibly take out its 200-day moving average at $1 or its next major resistance level at $1.03.
Gevo
Gevo (GEVO) is a renewable chemicals and advanced biofuels company. This stock closed up 2.6% to $1.97 in Tuesday's trading session.
Tuesday's Range: $1.87-$1.99
52-Week Range: $1.36-$3.78
Tuesday's Volume: 433,000
Three-Month Average Volume: 1.03 million
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From a technical perspective, GEVO bounced modestly higher here right off its 200-day moving average of $1.89 and back above its 50-day moving average of $1.94 with lighter-than-average volume. This move is quickly pushing shares of GEVO within range of triggering a near-term breakout trade. That trade will hit if GEVO manages to take out some near-term overhead resistance levels at $2.04 to $2.11 with high volume.
Traders should now look for long-biased trades in GEVO as long as it's trending above its 200-day at $1.89 or above $1.80 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 we get that move soon, then GEVO will set up to re-test or possibly take out its next major overhead resistance levels at $2.30 to $2.32. Any high-volume move above those levels will then put its next major overhead resistance levels at $2.45 to $2.75 into range for shares of GEVO.
Callon Petroleum
Callon Petroleum (CPE) is engaged in the exploration, development, acquisition and production of oil and gas properties. This stock closed up 1.8% to $4.40 in Tuesday's trading session.
Tuesday's Range: $4.26-$4.42
52-Week Range: $3.19-$6.55
Tuesday's Volume: 734,000
Three-Month Average Volume: 272,644
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From a technical perspective, CPE bounced modestly higher here right off its 200-day moving average of $4.28 with above-average volume. This stock has been uptrending strong for the last two months, with shares moving higher from its low of $3.19 to its recent high of $4.55. During that uptrend, shares of CPE have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of CPE within range of triggering a near-term breakout trade. That trade will hit if CPE manages to take out some near-term overhead resistance levels at $4.44 to $4.55 with high volume.
Traders should now look for long-biased trades in CPE as long as it's trending above some key near-term support at $4.08 and then once it sustains a move or close above those breakout levels with volume that hits near or above 272,644 shares. If that breakout triggers soon, then CPE will set up to re-test or possibly take out its next major overhead resistance levels at $5 to $5.25. Any high-volume move above those levels will then give CPE a chance to tag its next major overhead resistance levels at $5.78 to $5.82.
Forest Oil
Forest Oil (FST) is an independent oil and gas company engaged in the acquisition, exploration, development and production of natural gas and liquids in North America. This stock closed up 1.9% to $5.64 in Tuesday's trading session.
Tuesday's Range: $5.47-$5.73
52-Week Range: $3.77-$9.32
Tuesday's Volume: 3.96 million
Three-Month Average Volume: 3.75 million
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From a technical perspective, FST popped modestly higher here back above its 200-day moving average of $5.55 with above-average volume. This stock has been uptrending strong for the last two months, with shares moving higher from its low of $3.77 to its intraday high of $5.73. During that uptrend, shares of FST have been making mostly higher lows and higher highs, which is bullish technical price action.
Traders should now look for long-biased trades in FST as long as it's trending above some key near-term support levels at $5.25 or $5 and then once it sustains a move or close above Tuesday's high of $5.73 with volume that hits near or above 3.75 million shares. If we get that move soon, then FST will set up to re-test or possibly take out its next major overhead resistance levels at $6.52 to $7. Any high-volume move above those levels will then put $7.40 into range for shares of FST.
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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