Saturday, March 7, 2015

5 Stocks Under $10 Moving Higher

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.

Supernus Pharmaceuticals

Supernus Pharmaceuticals (SUPN) is a specialty pharmaceutical company focused on developing and commercializing products for the treatment of central nervous system, or CNS, diseases. This stock closed up 1.8% to $7.27 in Thursday's trading session.

Thursday's Range: $6.92-$7.31

52-Week Range: $4.45-$8.40

Thursday's Volume: 510,000

Three-Month Average Volume: 531,994

From a technical perspective, SUPN spiked modestly higher here right off its 50-day moving average of $6.94 with decent upside volume. This move is quickly pushing shares of SUPN within range of triggering a big breakout trade. That trade will hit if SUPN manages to take out some near-term overhead resistance levels at $7.40 to $7.49, and then once it clears more resistance at $7.70 with high volume.

Traders should now look for long-biased trades in SUPN as long as it's trending above its 50-day at $6.94 or above more near-term support at $6.77 and then once it sustains a move or close above those breakout levels with volume that hits near or above 531,994 shares. If that breakout hits soon, then SUPN will set up to re-test or possibly take out its 52-week high at $8.40.

NII Holdings

NII Holdings (NIHD) provides wireless communication services under the NextelTM brand, targeted at meeting the needs of subscribers who use its services to improve the productivity of their businesses. This stock closed up 7.8% to $2.48 in Thursday's trading session.

Thursday's Range: $2.28-$2.52

52-Week Range: $2.14-$9.82

Thursday's Volume: 5.14 million

Three-Month Average Volume: 4.50 million

From a technical perspective, NIHD spiked sharply higher here right above its 52-week low of $2.14 with strong upside volume. This stock has been dowtrending badly for the last three months, with shares plunging from its high of $7.50 to its low of $2.14. During that move, shares of NIHD have been consistently making lower highs and lower lows, which is bearish technical price action. That move has pushed shares of NIHD into oversold territory, since its current relative strength index reading is near 30. Oversold can always get more oversold, but this bounce higher on Thursday could be signaling that NIHD is ready to rebound sharply higher.

Traders should now look for long-biased trades in NIHD as long as it's trending above Thursday's low of $2.28 and then once it sustains a move or close above Thursday's high of $2.52 to some more near-term overhead resistance at $2.63 with volume that hits near or above 4.50 million shares. If we get that move soon, then NIHD could rebound sharply higher towards $3.50 to $3.80.

Orion Energy Systems

Orion Energy Systems (OESX) manufactures and implements energy management systems consisting primarily of commercial interior and exterior lighting systems, controls, power data management and cloud-based data storage and related services. This stock closed up 5.3% to $6.15 in Thursday's trading session.

Thursday's Range: $5.77-$6.20

52-Week Range: $1.12-$6.71

Thursday's Volume: 88,000

Three-Month Average Volume: 177,681

From a technical perspective, OESX spiked sharply higher here right above some near-term support at $5.61 with lighter-than-average volume. This stock recently formed a double bottom chart pattern at $5.71 to $5.61. Shares of OESX have now started to rebound off those support levels and it's quickly moving within range of triggering a big breakout trade. That trade will hit if OESX manages to take out some near-term overhead resistance levels at $6.50 to $6.64, and then once it clears its 52-week high at $6.71 with high volume.

Traders should now look for long-biased trades in OESX as long as it's trending above support at $5.61 and then once it sustains a move or close above those breakout levels with volume that hits near or above 177,681 shares. If that breakout hits soon, then OESX will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $9 to $10.

Document Security Systems

Document Security Systems (DDS) is engaged in fraud and counterfeit protection for all forms of printed documents and digital information. It holds numerous patents for optical deterrent technologies that provide protection of printed information. This stock closed up 5.7% to $2.03 in Thursday's trading session.

Thursday's Range: $1.87-$2.11

52-Week Range: $0.86-$3.64

Thursday's Volume: 1.63 million

Three-Month Average Volume: 877,945

From a technical perspective, DSS spiked sharply higher here right off its 200-day moving average of $1.90 with heavy upside volume. This stock has been uptrending strong for the last month and change, with shares soaring higher from its low of 86 cents per share to its high of $2.30. During that move, shares of DSS have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of DSS within range of triggering a major breakout trade. That trade will hit if DSS manages to take out Thursday's high of $2.11 to some more near-term overhead resistance at $2.30 with high volume.

Traders should now look for long-biased trades in DSS as long as it's trending above its 200-day at $1.90 or above more near-term support at $1.79 and then once it sustains a move or close above those breakout levels with volume that hits near or above 877,945 shares. If that breakout hits soon, then DSS will set up to re-test or possibly take out its next major overhead resistance levels at $3 to $3.20.

Organovo Holdings

Organovo Holdings (ONVO) is a three-dimensional biology company focused on delivering breakthrough bioprinting technology and creating tissue on demand for research and medical applications. This stock closed up 4.4% to $9.63 in Thursday's trading session.

Thursday's Range: $9.04-$9.99

52-Week Range: $2.00-$13.65

Thursday's Volume: 5.35 million

Three-Month Average Volume: 5.05 million

From a technical perspective, ONVO bounced sharply higher here right off some near-term support at $9 with above-average volume. This stock recently pulled back sharply from its 52-week high at $13.65 to its low of $7.93. Shares of ONVO have started to rebound off that $7.93 low with the stock tagging an intraday high on Thursday of $9.99. That rebound is starting to push shares of ONVO within range of triggering a big breakout trade. That trade will hit if ONVO manages to take out Thursday's high of $9.99 to some more near-term overhead resistance at $10.05 with high volume.

Traders should now look for long-biased trades in ONVO as long as it's trending above some near-term support at $9 or above $8.40, and then once it sustains a move or close above those breakout levels with volume that hits near or above 5.05 million shares. If that breakout hits soon, then ONVO will set up to re-test or possibly take out its next major overhead resistance levels at $12.50 to its 52-week high at $13.65.

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.


RELATED LINKS:



>>3 Stocks Breaking Out on Big Volume



>>5 Health Care Stocks Ready to Cut You a Dividend Check



>>5 Stocks Set to Soar on Bullish Earnings

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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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