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.
Medgenics
Medgenics (MDGN) is a medical technology and therapeutics company engaged in providing sustained protein therapies to treat chronic diseases and conditions. This stock closed up 4.8% to $6.54 in Tuesday's trading session.
Tuesday's Range: $6.31-$6.67
52-Week Range: $3.50-$10.05
Thursday's Volume: 107,000
Three-Month Average Volume: 106,648
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From a technical perspective, MDGN spiked sharply higher here right above some near-term support at $6.15 with above-average volume. This move is starting to push shares of MDGN within range of triggering a near-term breakout trade. That trade will hit if MDGN manages to take out Tuesday's high of $6.67 to its 50-day moving average of $6.81 with high volume.
Traders should now look for long-biased trades in MDGN as long as it's trending above some key near-term support levels at $6.15 to $5.83 and then once it sustains a move or close above those breakout levels with volume that hits near or above 106,648 shares. If that breakout triggers soon, then MDGN will set up to re-test or possibly take out its next major overhead resistance levels at $7.50 to $8.
InnerWorkings
InnerWorkings (INWK) is a provider of managed print and promotional procurement solutions to corporate clients across a range of industries. This stock closed up 1.2% to $6.56 in Tuesday's trading session.
Tuesday's Range: $6.42-$6.64
52-Week Range: $5.54-$15.80
Tuesday's Volume: 558,000
Three-Month Average Volume: 511,438
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From a technical perspective, INWK spiked modestly higher here with above-average volume. This move is starting to push shares of INWK within range of triggering a major breakout trade. That trade will hit if INWK manages to take out some near-term overhead resistance levels at $7 to $7.21 with high volume.
Traders should now look for long-biased trades in INWK as long as it's trending above some near-term support at $6 and then once it sustains a move or close above those breakout levels with volume that hits near or above 511,438 shares. If that breakout triggers soon, then INWK will set up to re-fill some of its previous gap down zone from November that started at $9.75. Some possible upside targets if INWK gets into that gap with volume are its 50-day at $8.58 to $9.
Acorn Energy
Acorn Energy (ACFN) is a holding company which provides digital solutions for energy infrastructure asset management. This stock closed up 5.5% to $3.79 in Tuesday's trading session.
Tuesday's Range: $3.60-$3.85
52-Week Range: $2.85-$9.90
Tuesday's Volume: 317,000
Three-Month Average Volume: 315,325
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From a technical perspective, ACFN spiked sharply higher here right above some near-term support at $3.50 with above-average volume. This move is quickly pushing shares of ACFN within range of triggering a near-term breakout trade. That trade will hit if ACFN manages to take out some near-term overhead resistance levels at $3.97 to its 50-day moving average of $4 with high volume.
Traders should now look for long-biased trades in ACFN as long as it's trending above some key near-term support levels at $3.50 or at $3.21, and then once it sustains a move or close above those breakout levels with volume that hits near or above 315,325 shares. If that breakout hits soon, then ACFN will set up to re-test or possibly take out its next major overhead resistance levels at $4.24 to $4.64. Any high-volume move above $4.64 will then give ACFN a chance to tag $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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