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 Tech Stocks to Trade for Gains This Week
With that in mind, let's take a closer look at a several stocks under $10 that are making large moves to the upside.
McEwen Mining
McEwen Mining (MUX) explores for, develops, produces, and sells precious and base metals in Argentina, Mexico, and the U.S. This stock closed up 3.5% to $2.90 Tuesday's trading session.
Tuesday's Range: $2.75-$2.90
52-Week Range: $1.70-$3.74
Tuesday's Volume: 3.72 million
Three-Month Average Volume: 2.35 million
From a technical perspective, MUX spiked notably higher here right above some near-term support at $2.70 to $2.60 with strong upside volume flows. This stock has been basing and consolidating for the last few weeks, with shares moving between around $2.60 on the downside and $3.08 on the upside. This spike higher on Tuesday is starting to push shares of MUX within range of triggering a big breakout trade above the upper-end of its recent sideways trading chart pattern. That trade will hit if MUX manages to take out some key near-term overhead resistance levels at $2.94 to $3.08 with high volume.
Traders should now look for long-biased trades in MUX as long as it's trending above some near-term support levels at $2.70 to $2.60 and then once it sustains a move or close above those breakout levels with volume that hits near or above 2.35 million shares. If that breakout triggers soon, then MUX will set up to re-test or possibly take out its 52-week high at $3.74.
Great Panther Silver
Great Panther Silver (GPL), a silver mining and exploration company, is engaged in the mining of mineral properties in Mexico. This stock closed up 7.4% to $1.30 in Tuesday's trading session.
Tuesday's Range: $1.21-$1.33
52-Week Range: $0.66-$1.38
Tuesday's Volume: 2.87 million
Three-Month Average Volume: 524,626
From a technical perspective, GPL ripped higher here and broke out above some near-term overhead resistance at $1.28 with monster upside volume. This big spike higher on Tuesday is quickly pushing shares of GPL within range of triggering another big breakout trade. That trade will hit if GPL manages to take out some key overhead resistance levels at $1.33 to its 52-week high at $1.38 with high volume.
Traders should now look for long-biased trades in GPL as long as it's trending above Tuesday's intraday low of $1.21 or above more support at $1.17 and then once it sustains a move or close above those breakout levels with volume that hits near or above 524,626 shares. If that breakout gets set off soon, then GPL will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are its next major overhead resistance levels at $1.43 to $1.60, or even $1.73 to $1.80.
Ventrus Biosciences
Ventrus Biosciences (VTUS), a development-stage specialty pharmaceutical company, focuses on the late-stage development and commercialization of gastrointestinal products in the U.S. This stock closed up 1.9% to $1.33 in Tuesday's trading session.
Tuesday's Range: $1.28-$1.33
52-Week Range: $0.85-$4.69
Tuesday's Volume: 233,000
Three-Month Average Volume: 704,318
From a technical perspective, VTUS jumped modestly higher here right above some near-term support at $1.28 and above its 50-day moving average of $1.21 with lighter-than-average volume. This spike higher on Tuesday is starting to push shares of VTUS within range of triggering a near-term breakout trade. That trade will hit if VTUS manages to take out some near-term overhead resistance levels at $1.35 to $1.37 with high volume.
Traders should now look for long-biased trades in VTUS as long as it's trending above some key near-term support levels at $1.28 or above its 50-day moving average at $1.21 and then once it sustains a move or close above those breakout levels with volume that hits near or above 704,318 shares. If that breakout gets underway soon, then VTUS will set up to re-test or possibly take out its next major overhead resistance levels at $1.45 to $1.54, or even $1.66. Any high-volume move above $1.66 to just over $1.75 will then give VTUS a chance to re-fill some of its previous gap-down-day zone from February that started around $4.50.
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.
RELATED LINKS:
>>4 Stocks Rising on Big Volume
>>3 Big Stocks on Traders' Radars
>>5 Blue-Chip Stocks to Trade for Summer Gains
Follow Stockpickr on Twitter and become a fan on Facebook.
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.
No comments:
Post a Comment