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.
Sophiris Bio
Sophiris Bio (SPHS), a clinical-stage biopharmaceutical company, focuses on the research, development, and commercialization of products for the treatment of urological diseases. This stock closed up 8.2% to $4.08 in Thursday's trading session.
Thursday's Range: $3.75-$4.19
52-Week Range: $3.50-$17.68
Thursday's Volume: 164,000
Three-Month Average Volume: 35,043
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From a technical perspective, SPHS spiked sharply higher here right above some near-term support at $3.61 with above-average volume. This move pushed shares of SPHS into breakout territory, since the stock took out some near-term overhead resistance at $3.90. Shares of SPHS managed to close just below its 50-day moving average at $4.10 with shares finishing the trading session at $4.09. Market players should now look for a continuation move higher in the short-term if SPHS manages to take out Thursday's high of $4.19 with high volume.
Traders should now look for long-biased trades in SPHS as long as it's trending above Thursday's low of $3.75 or above more near-term support at $3.61 and then once it sustains a move or close above $4.19 with volume that hits near or above 35,043 shares. If we get that move soon, then SPHS will set up to re-test or possibly take out its next major overhead resistance levels at $4.50 to $4.85. Any high-volume move above those levels will then give SPHS a chance to tag its next major overhead resistance levels at $5.11 to $5.91.
BioScrip
BioScrip (BIOS) provides home infusion and other home care services, and pharmacy benefit management services in the U.S. This stock closed up 1% to $7.43 in Thursday's trading session.
Thursday's Range: $7.13-$7.49
52-Week Range: $5.61-$17.62
Thursday's Volume: 1.69 million
Three-Month Average Volume: 1.46 million
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From a technical perspective, BIOS trended modestly higher here right above some near-term support at $7 with above-average volume. This stock recently formed a double bottom chart pattern at $6.95 to $6.99 right above its 50-day moving average of $6.64. Shares of BIOS have now started to spike higher off those support levels and it's quickly moving within range of triggering a near-term breakout trade. That trade will hit if BIOS manages to take out some near-term overhead resistance levels at $7.45 to $7.69 with high volume.
Traders should now look for long-biased trades in BIOS as long as it's trending above $7 or above its 50-day at $6.64 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.46 million shares. If that breakout hits soon, then BIOS will set up to re-test or possibly take out its next major overhead resistance levels at $8.53 to $9.
Neogenomics
Neogenomics (NEO) operates a network of cancer-focused testing laboratories providing genetic and molecular testing services to hospitals, pathologists, oncologists, urologists, other clinicians and researchers, and other laboratories in the U.S. This stock closed up 3.5% to $4.12 in Thursday's trading session.
Thursday's Range: $3.94-$4.18
52-Week Range: $2.05-$4.20
Thursday's Volume: 752,111
Three-Month Average Volume: 267,386
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From a technical perspective, NEO jumped higher here with above-average volume. This move briefly pushed shares of NEO into breakout territory, since the stock flirted with some past overhead resistance at $4.15. Shares of NEO tagged an intraday high of $4.19 before closing at $4.12. Market players should now look for a continuation move higher in the short-term if NEO can manage to take out Thursday's high of $4.19 to its 52-week high at $4.20 with high volume.
Traders should now look for long-biased trades in NEO as long as it's trending above Thursday's low of $3.94 or above its 50-day a5 $3.67 and then once it sustains a move or close above those breakout levels with volume that hits near or above 267,386 shares. If that breakout hits soon, then NEO will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $5 to $5.50.
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.
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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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