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.
Tonix Pharmaceuticals
Tonix Pharmaceuticals (TNXP), a development stage specialty pharmaceutical company, focuses on the identification and development of pharmaceutical products for the disorders of central nervous system. This stock closed up 4.9% to $9.34 in Tuesday's trading session.
Tuesday's Range: $8.88-$9.42
52-Week Range: $3.00-$21.00
Tuesday's Volume: 98,000
Three-Month Average Volume: 122,864
From a technical perspective, TNXP jumped higher here right above its 200-day moving average of $8.57 with lighter-than-average volume. This stock has been downtrending badly for the last five months, with shares moving lower from its high of $21 to its recent low of $8.14 a share. During that downtrend, shares of TNXP have been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of TNXP have now started to bounce off its 200-day and it's starting to break out above some near-term overhead resistance at $9.27. Market players should now look for a continuation move to the upside if TNXP manages to clear Tuesday's intraday high of $9.42 with strong upside volume.
Traders should now look for long-biased trades in TNXP as long as it's trending above Thursday's low of $8.88 or above its 200-day at $8.57 and then once it sustains a move or close above $9.42 with volume that hits near or above 122,864 shares. If that move materializes soon, then TNXP will set up to re-test or possibly take out its next major overhead resistance levels at $9.93 to its 50-day moving average of $9.97. Any high-volume move above those levels will then give TNXP a chance to tag its next major overhead resistance levels at $10.44 to $11.93.
Conatus Pharmaceuticals
Conatus Pharmaceuticals (CNAT), a biotechnology company, focuses on the development and commercialization of novel medicines to treat liver diseases in the U.S. This stock closed up 8.7% to $6.09 in Tuesday's trading session.
Tuesday's Range: $5.60-$6.10
52-Week Range: $5.06-$15.67
Tuesday's Volume: 420,000
Three-Month Average Volume: 416,652
From a technical perspective, CNAT ripped higher here and broke out above some near-term overhead resistance at $6 with above-average volume. This stock has been downtrending badly for the last three months, with shares moving lower from its high of $13.18 to its recent low of $5.06. During that downtrend, shares of CNAT have been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of CNAT are now starting to rebound off that $5.06 low and it looks like its downtrend might be over in the short-term. Market players should now look for a continuation move to the upside in the short-term if CNAT manages to clear Tuesday's intraday high of $6.10 with strong volume.
Traders should now look for long-biased trades in CNAT as long as it's trending above Tuesday's low of $5.60 or above more near-term support at $5.40 and then once it sustains a move or close above $6.10 with volume that hits near or above 416,652 shares. If that move gets underway soon, then CNAT will set up to re-test or possibly take out its next major overhead resistance levels at $6.40 to $6.87, or even its 50-day moving average at $7.05. Any high-volume move above $7.05 will then give CNAT a chance to tag $8.10 to $8.50.
Arotech
Arotech (ARTX), together with its subsidiaries, provides defense and security products and services. This stock closed up 5.1% to $4.67 a share in Tuesday's trading session.
Tuesday's Range: $4.41-$4.79
52-Week Range: $1.00-$6.61
Tuesday's Volume: 1.05 million
Three-Month Average Volume: 1.95 million
From a technical perspective, ARTX ripped higher here right off its 50-day moving average of $4.32 with decent upside volume. This spike higher on Tuesday is starting to push shares of ARTX within range of triggering a big breakout trade. That trade will hit if ARTX manages to take out Tuesday's intraday high of $4.79 and then once it clears more near-term overhead resistance levels at $4.85 to $5.15 with high volume.
Traders should now look for long-biased trades in ARTX as long as it's trending above its 50-day at $4.32 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.95 million shares. If that breakout triggers soon, then ARTX will set up to re-test or possibly take out its next major overhead resistance levels at $5.75 to $6.
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:
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>>5 Stocks Under $10 Set to Soar
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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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