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.
With that in mind, let's take a closer look at a several stocks under $10 that are making large moves to the upside.
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Novavax
Novavax (NVAX), a clinical-stage biopharmaceutical company, focuses on discovering, developing and commercializing recombinant protein nanoparticle vaccines and adjuvants. This stock closed up 3.1% to $4.33 in Tuesday's trading session.
Tuesday's Range: $4.18-$4.59
52-Week Range: $2.68-$6.95
Tuesday's Volume: 6.68 million
Three-Month Average Volume: 2.94 million
From a technical perspective, NVAX spiked sharply higher here right above some near-term support at $4 with heavy upside volume flows. This spike briefly pushed shares of NVAX into breakout territory above $4.35 and back above its 50-day moving average of $4.49. Shares of NVAX tagged an intraday high of $4.59, before closing just below that level at $4.33. Market players should now look for a continuation move to the upside in the short-term if NVAX manages to take out Tuesday's intraday high of $4.59 with high volume.
Traders should now look for long-biased trades in NVAX as long as it's trending above some key near-term support at around $4 and then once it sustains a move or close above $4.59 with volume that hits near or above 2.94 million shares. If that move develops soon, then NVAX will set up to re-test or possibly take out its next major overhead resistance levels at its 200-day moving average of $4.82 to $5, or even $5.20 to $5.50.
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OxiGene
OxiGene (OXGN), a clinical-stage biopharmaceutical company, develops therapeutics primarily to treat cancer. This stock closed up 6.8% to $2.33 in Tuesday's trading session.
Tuesday's Range: $2.22-$2.38
52-Week Range: $1.96-$5.40
Tuesday's Volume: 1.75 million
Three-Month Average Volume: 350,305
From a technical perspective, OXGN ripped sharply higher here back above its 50-day moving average of $2.25 with heavy upside volume flows. This stock recently formed a double bottom chart pattern at $2.08 to $2.06. Since forming that bottom, shares of OXGN have started to spike sharply higher and it's quickly approaching a near-term breakout trade. That trade will hit if OXGN manages to take out Tuesday's intraday high of $2.38 to more near-term overhead resistance at $2.45 with high volume.
Traders should now look for long-biased trades in OXGN as long as it's trending above some near-term support at $2.10 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 350,305 shares. If that breakout hits soon, then OXGN will set up to re-test or possibly take out its next major overhead resistance levels at $2.57 to its 200-day moving average of $2.65. Any high-volume move above those levels will then give OXGN a chance to tag $2.80 to $3, or even $3.20.
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Sinovac Biotech
Sinovac Biotech (SVA), a biopharmaceutical company, is engaged in the research, development, manufacture and commercialization of vaccines for hepatitis A, hepatitis B and influenza viruses in the People's Republic of China. This stock closed up 2.5% to $4.89 in Tuesday's trading session.
Tuesday's Range: $4.67-$5.01
52-Week Range: $4.51-$8.14
Tuesday's Volume: 230,000
Three-Month Average Volume: 197,755
From a technical perspective, SVA bounced notably higher here right above its new 52-week low of $4.51 with above-average volume. This spike to the upside on Tuesday is quickly pushing shares of SVA within range of triggering a near-term breakout trade. That trade will hit if SVA manages to take out some near-term overhead resistance levels at $5.14 to its 50-day moving average of $5.22 with high volume.
Traders should now look for long-biased trades in SVA as long as it's trending above its new 52-week low of $4.51 and then once it sustains a move or close above those breakout levels with volume that hits near or above 197,755 shares. If that breakout hits soon, then SVA will set up to re-test or possibly take out its next major overhead resistance levels at $5.69 to $5.80, o even its 200-day moving average at $5.99 to $6.03.
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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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