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.
Plug Power
Plug Power (PLUG is a provider of alternative energy technology focused on the design, development, commercialization and manufacture of fuel cell systems for the industrial off-road market. This stock closed up 6.2% to 51 cents per share in Tuesday's trading session.
Tuesday's Range: $0.45-$0.51
52-Week Range: $0.12-$1.09
Tuesday's Volume: 3.08 million
Three-Month Average Volume: 3.40 million
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From a technical perspective, PLUG bounced higher here right above its 50-day moving average of 40 cents per share with decent upside volume. This stock has been uptrending strong for the last few weeks, with shares moving higher from its low of 36 cents per share to Tuesday's intraday high of 51 cents per share. During that move, shares of PLUG have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of PLUG within range of triggering a near-term breakout trade. That trade will hit if PLUG manages to take out some near-term overhead resistance levels at 51 cents to 56 cents per share with high volume.
Traders should now look for long-biased trades in PLUG as long as it's trending above some key near-term support levels at 45 cents per share or its 50-day at 40 cents per share and then once it sustains a move or close above those breakout levels with volume that hits near or above 3.40 million shares. If that breakout triggers soon, then PLUG will set up to re-test or possibly take out its next major overhead resistance levels at 70 cents to 76 cents per share.
China Hydroelectric
China Hydroelectric (CHC) is a developer and operator of small hydroelectric power projects. This stock closed up 4% to $2.34 in Tuesday's trading session.
Tuesday's Range: $2.20-$2.37
52-Week Range: $0.98-$3.25
Tuesday's Volume: 48,000
Three-Month Average Volume: 59,402
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From a technical perspective, CHC bounced higher here right off its 200-day moving average at $2.21 and back above its 50-day moving average of $2.31 with lighter-than-average volume. This stock has been trending sideways for the last month, with shares moving between $2.08 on the downside and $2.48 on the upside. This bounce higher on Tuesday is starting to push shares of CHC within range of triggering a near-term breakout trade. That trade will hit if CHC manages to take out some near-term overhead resistance levels at $2.40 to $2.48 with high volume.
Traders should now look for long-biased trades in CHC as long as it's trending above its 200-day at $2.21 or above more key support at $2.08 and then once it sustains a move or close above those breakout levels with volume that's near or above 59,402 shares. If that breakout hits soon, then CHC will set up to re-test or possibly take out its next major overhead resistance levels at $2.86 to $3. Any high-volume move above $3 will then put its 52-week high at $3.25 into range for shares of CHC.
Stereotaxis
Stereotaxis (STXS) designs, manufactures and markets an advanced cardiology instrument control system for use in a hospital's interventional surgical suite to enhance the treatment of arrhythmias and coronary artery disease. This stock closed up 9.7% to $3.95 in Tuesday's trading session.
Tuesday's Range: $3.62-$4.32
52-Week Range: $1.01-$10.85
Tuesday's Volume: 3.88 million
Three-Month Average Volume: 1.61 million
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From a technical perspective, STXS bounced sharply higher here right above some near-term support levels at $3.53 to $3.52 with heavy upside volume. This stock recently gapped down sharply from its 52-week high at $10 to under $5 with heavy downside volume. Following that gap down, shares of STXS went on to form a double bottom chart pattern at $3.53 to $3.52. This stock is now starting to move within range of triggering a near-term breakout trade. That trade will hit if STXS manages to take out some near-term overhead resistance at $4.43 with high volume.
Traders should now look for long-biased trades in STXS as long as it's trending above $3.52 and then once it sustains a move or close above $4.43 with volume that hits near or above 1.61 million shares. If that breakout hits soon, then STXS will set up to re-test or possibly take out its next major overhead resistance levels at $5 to $6. Any high-volume move above $6 will then give STXS a chance to re-fill some of its previous gap down zone that started at $10.
Frontline
Frontline (FRO) is engaged mainly in the ownership and operation of oil tankers and oil/bulk/ore carriers, which are currently configured to carry dry cargo. This stock closed up 6.8% to $2.96 in Tuesday's trading session.
Tuesday's Range: $2.68-$2.99
52-Week Range: $1.71-$4.50
Tuesday's Volume: 2.44 million
Three-Month Average Volume: 1.11 million
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From a technical perspective, shares of FRO ripped higher here right above some near-term support at $2.65 with strong upside volume. This stock has been uptrending strong for the last two months, with shares moving higher from its low of 1.77 to its recent high of $3.17. During that move, shares of FRO have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of FRO within range of triggering a big breakout trade. That trade will hit if FRO manages to take out some near-term overhead resistance levels at $3.03 to $3.17 with high volume.
Traders should now look for long-biased trades in FRO as long as it's trending above some key near-term support at $2.65 or above its 200-day at $2.60 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.11 million shares. If that breakout triggers soon, then FRO will set up to re-test or possibly take out its next major overhead resistance levels at $3.50 to $3.70.
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.
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.
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