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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Sonus Networks
Sonus Networks (SONS) provides networked solutions for communications service providers and enterprises. This stock closed up 8.4% to $3.20 in Thursday's trading session.
Thursday's Range: $3.04-$3.23
52-Week Range: $2.68-$4.25
Thursday's Volume: 5.39 million
Three-Month Average Volume: 2.91 million
From a technical perspective, SONS ripped sharply higher here with strong upside volume flows. This large spike to the upside on Thursday also pushed shares of SONS into breakout territory, since the stock closed just above some near-term overhead resistance at $3.19. Market players should now look for a continuation move to the upside in the short-term if SONS manages to take out Thursday's intraday high of $3.23 to some more near-term overhead resistance at around $3.30 with high volume.
Traders should now look for long-biased trades in SONS as long as it's trending above Thursday's intraday low $3.04 or above more key near-term support at $2.92 and then once it sustains a move or close above $3.23 to $3.30 with volume that hits near or above 2.91 million shares. If that move kicks off soon, then SONS will set up to re-test or possibly take out its next major overhead resistance levels at its 200-day of $3.49 to its 50-day at $3.56. Any high-volume move above those levels will then give SONS a chance to tag its next major overhead resistance levels at $3.93 to $4.23.
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Spherix
Spherix (SPEX) operates as an intellectual property company that owns patented and unpatented intellectual properties. This stock closed up 2.5% to $1.23 in Thursday's trading session.
Thursday's Range: $1.16-$1.28
52-Week Range: $0.75-$13.70
Thursday's Volume: 812,000
Three-Month Average Volume: 1.18 million
From a technical perspective, SPEX jumped modestly higher here right above some near-term support at $1.13 and back above its 50-day moving average of $1.22 with lighter-than-average volume. This trend higher on Thursday briefly pushed shares of SPEX into breakout territory, since the stock flirted with some near-term overhead resistance levels at $1.25 to $1.27. Shares of SPEX tagged an intraday high of $1.28, before it closed just off that level at $1.23. This move is now quickly pushing shares of SPEX within range of triggering another near-term breakout trade. That trade will hit if SPEX manages to take out Thursday's intraday high of $1.28 to some more near-term overhead resistance at $1.30 with high volume.
Traders should now look for long-biased trades in SPEX as long as it's trending above Thursday's intraday low of $1.16 or above more near-term support levels at $1.13 to $1.10 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.18 million shares. If that breakout kicks off soon, then SPEX will set up to re-test or possibly take out its next major overhead resistance levels $1.58 to $1.74.
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SandRidge Mississippian Trust
SandRidge Mississippian Trust (SDT), a statutory trust, acquires and holds royalty interests in specified oil and natural gas properties in the Mississippian formation in Alfalfa, Garfield, Grant and Woods counties in Oklahoma. This stock closed up 5.7% to $4.26 a share in Thursday's trading session.
Thursday's Range: $4.01-$4.30
52-Week Range: $3.66-$14.60
Thursday's Volume: 266,000
Three-Month Average Volume: 266,591
From a technical perspective, SDT ripped sharply higher here right above some near-term support at $3.96 with decent upside volume flows. This spike higher on Thursday also pushed shares of SDT into breakout territory, since the stock took out some near-term overhead resistance at $4.20. Shares of SDT are now quickly moving within range of triggering a much bigger breakout trade. That trade will hit if SDT manages to take out some key near-term overhead resistance levels at $4.32 to its 50-day moving average of $4.55 with high volume.
Traders should now look for long-biased trades in SDT as long as it's trending above some key near-term support at $3.96 and then once it sustains a move or close above those breakout levels with volume that hits near or above 266,591 shares. If that breakout gets underway soon, then SDT will set up to re-test or possibly take out its next major overhead resistance levels at $5.35 to $5.50.
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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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