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.
Impac Mortgage Holdings
Impac Mortgage Holdings (IMH) operates as an independent residential mortgage lender. This stock closed up 5.3% to $6.31 in Tuesday's trading session.
Tuesday's Range: $6.07-$6.44
52-Week Range: $4.66-$15.39
Tuesday's Volume: 50,000
Three-Month Average Volume: 56,874
From a technical perspective, IMH spiked sharply higher here right above its 50-day moving average of $5.87 with decent upside volume. This stock has been consolidating and trending sideways for the last month and change, with shares moving between $5.55 on the downside and $6.45 on the upside. This spike on Tuesday is starting to push shares of IMH within range of triggering a big breakout trade above the upper-end of its recent sideways trading chart pattern. That trade will hit if IMH manages to take out some near-term overhead resistance levels at $6.45 to $6.95 with high volume.
Traders should now look for long-biased trades in IMH as long as it's trending above its 50-day at $5.87 or above more near-term support at $5.55 and then once it sustains a move or close above those breakout levels with volume that hits near or above 56,874 shares. If that breakout hits soon, then IMH will set up to re-test or possibly take out its next major overhead resistance levels at $7.84 to $8.50.
Global Geophysical Services
Global Geophysical Services (GGS), together with its subsidiaries, provides an integrated suite of seismic data solutions to the oil and gas industry worldwide. This stock closed up 3.5% to $1.47 in Tuesday's trading session.
Tuesday's Range: $1.39-$1.48
52-Week Range: $1.33-$4.96
Thursday's Volume: 108,000
Three-Month Average Volume: 292,589
From a technical perspective, GGS spiked notably higher here right above some near-term support at $1.36 with lighter-than-average volume. This stock looks to be forming a major bottoming chart pattern over the last two months, with shares of GGS finding buying interest each time it has pulled back to $1.40 or just below that level. Shares of GGS are now starting to spike higher off those support levels and move within range of triggering a major breakout trade. That trade will hit if GGS manages to take out its 50-day moving average of $1.54 and then once it clears some more key overhead resistance levels at $1.69 to $1.84 with high volume.
Traders should now look for long-biased trades in GGS as long as it's trending above some near-term support levels at $1.36 or at $1.33 and then once it sustains a move or close above those breakout levels with volume that hits near or above 292,589 shares. If that breakout hits soon, then GGS will set up to re-test or possibly take out its next major overhead resistance levels at $2.25 to $2.50.
Exco Resources
Exco Resources (XCO), independent oil and natural gas company, engages in the acquisition, exploration, exploitation, development and production of onshore U.S. oil and natural gas properties with a focus on shale resource plays. This stock closed up 3.5% to $5.50 in Tuesday's trading session.
Tuesday's Range: $5.35-$5.55
52-Week Range: $4.60-$9.00
Tuesday's Volume: 6.53 million
Three-Month Average Volume: 5.29 million
From a technical perspective, XCO spiked notably higher here right above its 50-day moving average of $5.14 with heavy upside volume. This spike is starting to push shares of XCO within range of triggering a big breakout trade. That trade will hit if XCO manages to take out some key overhead resistance levels at $5.60 to $5.75 with high volume.
Traders should now look for long-biased trades in XCO as long as it's trending above its 50-day at $5.14 or above more near-term support at $5.11 and then once it sustains a move or close above those breakout levels with volume that hits near or above 5.29 million shares. If that breakout hits soon, then XCO will set up to re-test or possibly take out its next major overhead resistance levels at $6.25 to its 200-day moving average of $6.77. Any high-volume move above those levels will then give XCO a chance to tag $7.20 to $7.50.
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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