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.
BioScrip
BioScrip (BIOS) is a provider of pharmacy and home health services that partners with patients, physicians, hospitals, health care payors and pharmaceutical manufacturers. This stock closed up 3.3% to $7.07 in Tuesday's trading session.
Tuesday's Range: $6.81-$7.26
52-Week Range: $6.61-$17.62
Tuesday's Volume: 2.35 million
Three-Month Average Volume: 1.48 million
From a technical perspective, BIOS spiked higher here right above its 52-week low of $6.61 with strong upside volume. This stock has been downtrending badly for the last four months, with shares plunging lower from its high of $17.62 to its recent low of $6.61. During that downtrend, shares of BIOS have been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of BIOS have now entered oversold territory, since its current relative strength index reading is 26.63. Oversold can always get more oversold, but it's also an area where a stock can make a powerful bounce higher from.
Traders should now look for long-biased trades in BIOS as long as it's trending above its 52-week low of $6.61 and then once it sustains a move or close above Tuesday's high of $7.26 with volume that hits near or above 1.48 million shares. If we get that move soon, then BIOS will set up to re-test or possibly take out its next major overhead resistance levels $8 to $8.53. Any high-volume move above those levels will then give BIOS a chance to tag its 50-day moving average at $9.41.
NanoViricides
NanoViricides (NNVC), a nano-biopharmaceutical company, discovers, develops, and commercializes therapeutics for the treatment of viral infections. This stock closed up 4.1% to $5.31 in Tuesday's trading session.
Tuesday's Range: $5.01-$5.33
52-Week Range: $1.12-$7.59
Tuesday's Volume: 170,000
Three-Month Average Volume: 224,697
From a technical perspective, NNVC spiked sharply higher here right off its 50-day moving average of $5.01 with lighter-than-average volume. This stock has been trending sideways for the last month, with shares moving between $4.55 on the downside and $5.74 on the upside. This spike on Tuesday is now starting to push shares of NNVC within range of triggering a near-term breakout trade above the upper-end of its recent range. That trade will hit if NNVC manages to take out Tuesday's high of $5.34 to some more key overhead resistance levels at $5.70 to $5.74 with high volume.
Traders should now look for long-biased trades in NNVC as long as it's trending above its 50-day at $5.01 or above more support at $4.85 and then once it sustains a move or close above those breakout levels with volume that hits near or above 224,697 shares. If that breakout hits soon, then NNVC will set up to re-test or possibly take out its next major overhead resistance levels at $6.50 to its 52-week high at $7.59.
Opexa Therapeutics
Opexa Therapeutics (OPXA) is engaged in developing personalized cellular therapies with the potential to treat major illnesses, including multiple sclerosis. This stock closed up 9.5% to $2.06 in Tuesday's trading session.
Tuesday's Range: $1.85-$2.08
52-Week Range: $1.07-$5.19
Tuesday's Volume: 961,000
Three-Month Average Volume: 1.72 million
From a technical perspective, OPXA skyrocketed higher here right off its 50-day moving average of $1.84 and right above its 200-day moving average at $1.79 with lighter-than-average volume. This move is quickly pushing shares of OPXA within range of triggering a major breakout trade. That trade will hit if OPXA manages to take out Tuesday's high of $2.08 to some more near-term overhead resistance levels at $2.23 to $2.44 with high volume.
Traders should now look for long-biased trades in OPXA as long as it's trending above its 50-day at $1.84 or above its 200-day at $1.79 and then once it sustains a move or close above those breakout levels with volume that's near or above 1.72 million shares. If that breakout hits soon, then OPXA will set up to re-test or possibly take out its next major overhead resistance level at $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.
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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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