DELAFIELD, Wis. (Stockpickr) -- At Stockpickr, we track daily portfolios of stocks that are the biggest percentage gainers and the biggest percentage losers.
>>5 Stocks Set to Soar on Bullish Earnings
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.
>>5 Stocks Ready for Breakouts
With that in mind, let's take a closer look at a several stocks under $10 that are making large moves to the upside.
Tonix Pharmaceuticals
Tonix Pharmaceuticals (TNXP), a development stage specialty pharmaceutical company, focuses on the identification and development of pharmaceutical products for the disorders of central nervous system. This stock closed up 4.1% to $9.89 in Tuesday's trading session.
Tuesday's Range: $9.34-$10.00
52-Week Range: $3.00-$21.00
Tuesday's Volume: 153,000
Three-Month Average Volume: 118,900
From a technical perspective, TNXP ripped higher here right above some near-term support at $9.28 and back above its 50-day moving average of $9.77 with above-average volume. This sharp spike higher on Tuesday is quickly pushing shares of TNXP within range of triggering a near-term breakout trade. That trade will hit if TNXP manages to take out Tuesday's intraday high of $10 and then once it clears some more key overhead resistance levels at $10.36 to $10.44 with high volume.
Traders should now look for long-biased trades in TNXP as long as it's trending above near-term support at $9.28 and then once it sustains a move or close above those breakout levels with volume that hits near or above 118,900 shares. If that breakout triggers soon, then TNXP will set up to re-test or possibly take out its next major overhead resistance levels at $11.93 to $12.62, or even $13.
Sirius XM
Sirius XM (SIRI) provides satellite radio services in the U.S. and Canada. This stock closed up 0.61% to $3.30 in Tuesday's trading session.
Tuesday's Range: $3.27-$3.32
52-Week Range: $2.98-$4.18
Tuesday's Volume: 53.63 million
Three-Month Average Volume: 69.50 million
From a technical perspective, SIRI trended modestly higher here right above its 50-day moving average of $3.19 with lighter-than-average volume. This stock has been uptrending for the last month, with shares moving higher from its low of $2.98 to its recent high of $3.36. During that uptrend, shares of SIRI have been making mostly higher lows and higher highs, which is bullish technical price action. Shares of SIRI are now starting to trend within range of triggering a near-term breakout trade. That trade will hit if SIRI manages to take out some key near-term overhead resistance levels at $3.36 to $3.40 with high volume.
Traders should now look for long-biased trades in SIRI as long as it's trending above its 50-day moving average of $3.19 or above more near-term support at $3.09 and then once it sustains a move or close above those breakout levels with volume that hits near or above 69.50 million shares. If that breakout materializes soon, then SIRI will set up to re-test or possibly take out its next major overhead resistance levels at its 200-day moving average of $3.56 to $3.63. Any high-volume move above those levels will then give SIRI a chance to tag $4.
Chegg
Chegg (CHGG) operates student-first connected learning platform that empowers students to take control of their education to save time, save money and get smarter. This stock closed up 7.3% to $5.81 in Tuesday's trading session.
Tuesday's Range: $5.45-$5.82
52-Week Range: $0.49-$1.55
Tuesday's Volume: 1.10 million
Three-Month Average Volume: 445,138
From a technical perspective, CHGG spiked sharply higher here right above some near-term support at $5.40 with above-average volume. This stock has been uptrending a bit for the last few weeks, with shares moving higher from its low of $4.82 to its intraday high of $5.82. During that uptrend, shares of CHGG have been making mostly higher lows and higher highs, which is bullish technical price action. This sharp spike higher on Tuesday is quickly pushing shares of CHGG within range of triggering a big breakout trade. That trade will hit if CHGG manages to take out its 50-day moving average of $5.85 and then once it clears more resistance at $6.14 with high volume.
Traders should now look for long-biased trades in CHGG as long as it's trending above near-term support at $5.40 and then once it sustains a move or close above those breakout levels with volume that hits near or above 445,138 shares. If that breakout starts soon, then CHGG will set up to re-test or possibly take out its next major overhead resistance levels at $6.50 to $7.50, or even $8.
Pixelworks
Pixelworks (PXLW) designs, develops and markets video and pixel processing semiconductors, software and custom ASIC solutions for digital video applications. This stock closed up 6.8% to $6.67 in Tuesday's trading session.
Tuesday's Range: $6.12-$6.79
52-Week Range: $2.97-$9.05
Tuesday's Volume: 1.21 million
Three-Month Average Volume: 1.85 million
From a technical perspective, PXLW ripped sharply higher here right above some near-term support at $6.03 with decent upside volume. This move is quickly pushing shares of PXLW within range of triggering a major breakout trade. That trade will hit if PXLW manages to take out Tuesday's intraday high of $6.79 to some more key overhead resistance levels at $6.80 to $7 with high volume.
Traders should now look for long-biased trades in PXLW as long as it's trending above near-term support at $6.03 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.85 million shares. If that breakout begins soon, then PXLW will set up to re-test or possibly take out its 52-week high at $9.05.
Top Construction Material Stocks To Watch For 2015
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.
RELATED LINKS:
>>4 Stocks Spiking on Big Volume
>>Sell These 5 Toxic Stocks Before It's Too Late
>>5 Tech Stocks to Trade for Gains This June
Follow Stockpickr on Twitter and become a fan on Facebook.
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.
No comments:
Post a Comment