DELAFIELD, Wis. (Stockpickr) -- At Stockpickr, we track daily portfolios of stocks that are the biggest percentage gainers and the biggest percentage losers.
>>5 Stocks Under $10 Set to Soar
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.
Ariad Pharmaceuticals
Ariad Pharmaceuticals (ARIA) is engaged in the discovery and development of breakthrough medicines to treat cancers by regulating cell signaling with small molecules. This stock closed up 8.5% to $2.79 in Thursday's trading session.
Thursday's Range: $2.58-$2.81
52-Week Range: $2.51-$24.59
Thursday's Volume: 9.66 million
Three-Month Average Volume: 11.93 million
From a technical perspective, ARIA spiked sharply higher here and broke out above some near-term overhead resistance at $2.70 with decent upside volume. This move is quickly pushing shares of ARIA within range of triggering a major breakout trade. That trade will hit if ARIA manages to take out Thursday's high of $2.81 to some more near-term overhead resistance at $2.82 with high volume.
Traders should now look for long-biased trades in ARIA as long as it's trending above Thursday's low of $2.58 or above more support at $2.33 and then once it sustains a move or close above those breakout levels with volume that hits near or above 11.93 million shares. If that breakout hits soon, then ARIA will set up to re-fill some of its previous gap down zone from October that started just above $4.
Achillion Pharmaceuticals
Achillion Pharmaceuticals (ACHN) is a biopharmaceutical company focused on the discovery, development and commercialization of innovative treatments for infectious diseases. This stock closed up 9.7% to $2.92 in Thursday's trading session.
Thursday's Range: $2.71-$2.95
52-Week Range: $2.26-$10.17
Thursday's Volume: 5.40 million
Three-Month Average Volume: 2.86 million
From a technical perspective, ACHN skyrocketed higher here and broke out above some near-term overhead resistance at $2.85 with monster upside volume. This move is quickly pushing shares of ACHN within range of triggering another big breakout trade. That trade will hit if ACHN manages to take out Thursday's high of $2.95 to some more near-term overhead resistance at $2.98 with high volume.
Traders should now look for long-biased trades in ACHN as long as it's trending above Thursday's low of $2.71 or above more key support levels at $2.52 to $2.44 and then once it sustains a move or close above those breakout levels with volume that hits near or above 2.86 million shares. If that breakout triggers soon, then ACHN will set up to re-test or possibly take out its gap down day high from September at $3.62. Any high-volume move above $3.62 will then give ACHN a chance to re-fill some of its previous gap down zone that started at $7.50.
Immunomedics
Immunomedics (IMMU) is a biopharmaceutical company focused on the development of monoclonal antibody-based products for the targeted treatment of cancer, autoimmune and other serious diseases. This stock closed up 9.2% to $3.90 in Thursday's trading session.
Thursday's Range: $3.60-$3.93
52-Week Range: $2.11-$7.35
Thursday's Volume: 1.03 million
Three-Month Average Volume: 1.26 million
From a technical perspective, IMMU spiked sharply higher here right above some near-term support at $3.50 with decent upside volume. This stock has been dowtrending badly for the last month and change, with shares dropping from its high of $7.35 to its recent low of $3.28. During that move, shares of IMMU have been consistently making lower highs and lower lows, which is bearish technical price action. That said, the sharp move higher for IMMU on Thursday could be signaling that the downside volatility for IMMU is over in the short-term.
Traders should now look for long-biased trades in IMMU as long as it's trending above some key near-term support levels at $3.50 or at $3.28 and then once it sustains a move or close above resistance at $3.94 to its 200-day moving average at $4.19 with volume that hits near or above 1.26 million shares. If we get that move soon, then IMMU will set up to re-test or possibly take out its next major overhead resistance levels at its 50-day of $4.93 or at $5.50 to $6.
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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