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.
>>Must-See Charts: 5 Big Trades for May
With that in mind, let's take a closer look at a several stocks under $10 that are making large moves to the upside.
ChemoCentryx
ChemoCentryx (CCXI), a biopharmaceutical company, focuses on the discovery, development, and commercialization of orally-administered therapeutics to treat autoimmune diseases, inflammatory disorders, and cancer in the U.S. This stock closed up 6.7% to $5.85 in Thursday's trading session.
Thursday's Range: $5.34-$5.89
52-Week Range: $4.57-$14.96
Thursday's Volume: 247,000
Three-Month Average Volume: 285,990
From a technical perspective, CCXI jumped sharply higher here with decent upside volume. This stock recently formed a double bottom chart pattern at $4.97 to $5.07. Following that bottom, shares of CCXI have started to spike higher and move within range of triggering a big breakout trade. That trade will hit if CCXI manages to take out Thursday's high of $5.89 to some more near-term overhead resistance at $5.99 with high volume.
Traders should now look for long-biased trades in CCXI as long as it's trending above those double bottom support zones and then once it sustains a move or close above those breakout levels with volume that hits near or above 285,990 shares. If that breakout hits soon, then CCXI will set up to re-test or possibly take out its next major overhead resistance levels at its 50-day moving average of $6.68 to $7, or its 200-day moving average at $7.10.
Quiksilver
Quiksilver (ZQK) designs, develops, markets, and distributes branded apparel, footwear, accessories, and related products primarily for men, women, and children. This stock closed up 4% to $6.68 a share in Thursday's trading session.
Thursday's Range: $6.29-$.6.69
52-Week Range: $4.81-$9.29
Thursday's Volume: 2.36 million
Three-Month Average Volume: 1.38 million
From a technical perspective, ZQK ripped sharply higher here right above some near-term support at $6.14 with above-average volume. This stock recently formed a double bottom chart pattern at $6.21 to $6.14. Following that bottom, shares of ZQK have started to spike higher and move within range of triggering a big breakout trade. That trade will hit if ZQK manages to take out Thursday's high of $6.69 to some more near-term overhead resistance at $6.73 with high volume.
Traders should now look for long-biased trades in ZQK as long as it's trending above those double bottom support levels and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.38 million shares. If that breakout triggers soon, then ZQK will set up to re-test or possibly take out its next major overhead resistance levels at its 50-day moving average of $7.33 to $8. Any high-volume move above those levels will then give ZQK a chance to tag its next major overhead resistance levels at $8.28 to $9.
Onconova Therapeutics
Onconova Therapeutics (ONTX), a clinical-stage biopharmaceutical company, focuses on discovering and developing small molecule drug candidates to treat cancer. This stock closed up 2.5% to $5.72 a share in Thursday's trading session.
Thursday's Range: $5.50-$5.83
52-Week Range: $5.25-$31.13
Thursday's Volume: 156,000
Three-Month Average Volume: 362,549
From a technical perspective, ONTX jumped modestly higher here right above some near-term support at $5.40 with lighter-than-average volume. This stock has been trending sideways and consolidating for the last month, with shares moving between $5.25 on the downside and $6.27 on the upside. This spike higher on Thursday is starting to push shares of ONTX within range of triggering a big breakout trade above the upper-end of its recent sideways trading chart pattern. That trade will hit once ONTX manages to take out some key near-term overhead resistance levels at $6 to $6.27 with high volume.
Traders should now look for long-biased trades in ONTX as long as it's trending above some key near-term support levels at $5.40 to its 52-week low of $5.25 and then once it sustains a move or close above those breakout levels with volume that hits near or above 362,549 shares. If that breakout kicks off soon, then ONTX will set up to re-test or possibly take out its next major overhead resistance levels at its 50-day moving average of $6.90 to $8, or even $8.50.
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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