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.
Cardiome Pharma
Cardiome Pharma (CRME), a biopharmaceutical company, discovers, develops and commercializes new therapies that improve the health of patients around the world. This stock closed up 6.5% to $6.64 in Tuesday's trading session.
Tuesday's Range: $6.20-$6.78
52-Week Range: $1.60-$7.15
Tuesday's Volume: 120,000
Three-Month Average Volume: 202,559
From a technical perspective, CRME ripped higher here right off some near-term support at $6 with lighter-than-average volume. This move is quickly pushing shares of CRME within range of triggering a big breakout trade. That trade will hit if CRME manages to take out Tuesday's high of $6.78 and then once it clears its 52-week high at $7.15 with high volume.
Traders should now look for long-biased trades in CRME as long as it's trending above some near-term support levels at $6 or at $5.85, and then once it sustains a move or close above those breakout levels with volume that hits near or above 202,559 shares. If that breakout hits soon, then CRME will set up to enter new 52-week-high territory, which is bullish technical price action. If that breakout hits, then CRME will have a chance to re-fill some of its previous gap down zone from March of 2012 that started near $10.
Pernix Therapeutics
Pernix Therapeutics (PTX) is a specialty pharmaceutical company focused on the sales, marketing and development of branded and generic pharmaceutical products for pediatric and adult indications in a variety of therapeutic areas. This stock closed up 5.9% to $2.49 in Tuesday's trading session.
Tuesday's Range: $2.35-$2.60
52-Week Range: $1.68-$8.70
Tuesday's Volume: 91,000
Three-Month Average Volume: 124,498
From a technical perspective, PTX ripped higher here right off its 50-day moving average of $2.36 with lighter-than-average volume. This move is starting to push shares of PTX within range of triggering a big breakout trade. That trade will hit if PTX manages to take out Tuesday's high of $2.60 to some more near-term overhead resistance at $2.90 with high volume.
Traders should now look for long-biased trades in PTX as long as it's trending above its 50-day at $2.36 or above some more near-term support at $2.23 and then once it sustains a move or close above those breakout levels with volume that's near or above 124,498 shares. If that breakout hits soon, then PTX will set up to re-test or possibly take out its next major overhead resistance levels at its 200-day of $3.46 to $3.59. Any high-volume move above those levels will then give PTX a chance to tag its next major overhead resistance level at $4.30.
Idera Pharmaceuticals
Idera Pharmaceuticals (IDRA) is a clinical-stage biotechnology company engaged in the discovery and development of novel synthetic DNA- and RNA-based drug candidates. This stock closed up 3.2% to $2.56 in Tuesday's trading session.
Tuesday's Range: $2.52-$2.68
52-Week Range: $0.19-$3.12
Thursday's Volume: 1 million
Three-Month Average Volume: 1.43 million
From a technical perspective, IDRA spiked notably higher here with lighter-than-average volume. This stock has been uptrending over the last month and change, with shares moving higher from its low of $1.55 to its recent high of $2.87. During that uptrend, shares of IDRA have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of IDRA within range of triggering a big breakout trade. That trade will hit if IDRA manages to take out some near-term overhead resistance levels at $2.87 to its 52-week high at $3.12 with high volume.
Traders should now look for long-biased trades in IDRA as long as it's trending above some key near-term support levels at $2.27 or above its 50-day at $2.18 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.43 million shares. If that breakout triggers soon, then IDRA will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $4 to $4.50.
Solta Medical
Solta Medical (SLTM) designs, develops, manufactures and markets energy-based medical device systems for aesthetic applications. This stock closed up 3.4% to $2.12 in Tuesday's trading session.
Tuesday's Range: $2.05-$2.15
52-Week Range: $1.44-$2.89
Tuesday's Volume: 684,000
Three-Month Average Volume: 512,202
From a technical perspective, SLTM spiked notably higher here right above its 50-day moving average of $2.02 with above-average volume. This stock has been uptrending for the last month and change, with shares moving higher from its low of $1.70 to its recent high of $2.16. During that uptrend, shares of SLTM have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of SLTM within range of triggering a big breakout trade. That trade will hit if SLTM manages to take out some key overhead resistance levels at $2.16 to $2.25, and then once it takes out some past resistance at $2.28 with high volume.
Traders should now look for long-biased trades in SLTM as long as it's trending above its 50-day at $2.02 or above more near-term support at $1.90, and then once it sustains a move or close above those breakout levels with volume that hits near or above 512,202 shares. If that breakout hits soon, then SLTM will set up to re-test or possibly take out its next major overhead resistance levels at $2.70 to its 52-week high at $2.89. Any high-volume move above $2.89 will then give SLTM a chance to tag its next major overhead resistance levels at $3.21 to $3.35.
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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