DELAFIELD, Wis. (Stockpickr) -- At Stockpickr, we track daily portfolios of stocks that are the biggest percentage gainers and the biggest percentage losers.
>>3 Huge Stocks on Traders' Radars
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 Stocks With Big Insider Buying
With that in mind, let's take a closer look at a several stocks under $10 that are making large moves to the upside.
Vringo
Vringo (VRNG), together with its subsidiaries, develops, acquires, licenses, protects and monetizes intellectual property worldwide. This stock closed up 1.9% to $3.62 in Wednesday's trading session.
Wednesday's Range: $3.45-$3.64
52-Week Range: $2.61-$5.45
Wednesday's Volume: 1.56 million
Three-Month Average Volume: 2.09 million
From a technical perspective, VRNG jumped modestly higher here right above its 200-day moving average of $3.36 and its 50-day moving average of $3.51 with decent upside volume. This spike higher on Wednesday is starting to push shares of VRNG within range of triggering a major breakout trade. That trade will hit if VRNG manages to take out Wednesday's intraday high of $3.65 and then once it clears some near-term overhead resistance at $3.69 with high volume.
Traders should now look for long-biased trades in VRNG as long as it's trending above its 200-day at $3.36 or above $3.20 and then once it sustains a move or close above $3.65 to $3.69 with volume that hits near or above 2.09 million shares. If that breakout materializes soon, then VRNG will set up to re-test or possibly take out its next major overhead resistance levels at $4.27 to $4.49. Any high-volume move above those levels will then give VRNG a chance to tag its 52-week high at $5.45.
Prana Biotechnology
Prana Biotechnology (PRAN) researches and develops therapeutic drugs for the treatment of neurological disorders in Australia. This stock closed up 4.2% to $2.10 Wednesday's trading session.
Wednesday's Range: $1.98-$2.15
52-Week Range: $1.47-$13.29
Wednesday's Volume: 1.86 million
Three-Month Average Volume: 1.97 million
From a technical perspective, PRAN spiked sharply higher here right above its 50-day moving average of $1.82 with decent upside volume. This spike higher on Wednesday pushed shares of PRAN into breakout territory, since the stock took out some near-term overhead resistance at $2.08. Shares of PRAN are now starting to move within range of triggering a much bigger breakout trade. That trade will hit if PRAN manages to clear Wednesday's intraday high of $2.15 to some more key overhead resistance at $2.24 with high volume.
Traders should now look for long-biased trades in PRAN as long as it's trending above its 50-day moving average of $1.82 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.97 million shares. If that breakout triggers soon, then PRAN will set up to re-test or possibly take out its next major overhead resistance levels at $2.47 to $2.70, or its gap-down-day high from March at $3.24.
PowerSecure International
PowerSecure International (POWR) provides products and services to electric utilities and to their commercial, institutional and industrial customers in the U.S. This stock closed up 2.6% to $8.49 in Wednesday's trading session.
Wednesday's Range: $8.22-$8.60
52-Week Range: $6.41-$27.44
Wednesday's Volume: 713,000
Three-Month Average Volume: 827,252
From a technical perspective, POWR spiked higher here right above some near-term support at $8 with decent upside volume. This stock recently formed a double bottom chart pattern at $7.40 to $7.59. Following that bottom, shares of POWR have started to spike higher and it's now moving within range of triggering a major breakout trade. That trade will hit if POWR manages to take out Wednesday's high intraday high of $8.60 to some more key overhead resistance at $9.16 with high volume.
Traders should now look for long-biased trades in POWR as long as it's trending above some near-term support at $8 or above those double bottom support levels and then once it sustains a move or close above those breakout levels with volume that hits near or above 827,252 shares. If that breakout begins soon, then POWR will set up to re-fill some of its previous gap-down-day zone from May that started above $20.
Turtle Beach
Turtle Beach (HEAR), an audio technology company, is engaged in developing, commercializing and marketing audio technologies under the Turtle Beach and HyperSound brands in the U.S., Europe, and internationally. This stock closed up 0.4% to $9.49 in Wednesday's trading session.
Wednesday's Range: $9.40-$9.64
52-Week Range: $7.58-$17.90
Wednesday's Volume: 57,000
Three-Month Average Volume: 191,992
From a technical perspective, HEAR trended modestly higher here right above some near-term support at $9 with lighter-than-average volume. This stock recently formed a double bottom chart pattern at $9 to $9.04. Following that bottom, shares of HEAR have now started to trend slightly higher and move within range of triggering a near-term breakout trade. That trade will hit if HEAR manages to take out some near-term overhead resistance levels at $9.89 to its 50-day moving average of $10.08 with high volume.
Traders should now look for long-biased trades in HEAR as long as it's trending above those double bottom support zones and then once it sustains a move or close above those breakout levels with volume that hits near or above 191,992 shares. If that breakout starts soon, then HEAR will set up to re-test or possibly take out its next major overhead resistance levels at $10.50 to $11.40. Any high-volume move above $11.40 will then give HEAR a chance to re-fill some of its previous gap-down-day zone from April that started near $13.50.
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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