Top 5 Canadian Companies To Own In Right Now
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.
Advanced Micro Devices
Advanced Micro Devices (AMD) is a semiconductor company with manufacturing, research and development, and sales and administrative facilities throughout the world. It provides processing solutions for the computing and graphics markets. This stock closed flat at $3.90 in Thursday's trading session.
Thursday's Range: $3.86-$3.94
52-Week Range: $1.81-$4.65
Thursday's Volume: 25.48 million
Three-Month Average Volume: 29.35 million
From a technical perspective, AMD moved slightly off its intraday low of $3.86 and right above its 50-day moving average of $3.71 with decent upside volume. This stock has been trending sideways inside of a consolidation chart pattern for the last month, with shares moving between $3.69 on the downside and $4 on the upside. Shares of AMD are now starting to move within range of triggering a near-term breakout trade above the upper-end of its recent sideways trading chart pattern. That breakout will hit if AMD manages to take out some near-term overhead resistance levels at $3.98 to $4 with high volume.
Traders should now look for long-biased trades in AMD as long as it's trending above its 50-day at $3.71 or above more support at $3.69 and then once it sustains a move or close above those breakout levels with volume that hits near or above 29.35 million shares. If that breakout hits soon, then AMD will set up to re-fill some of its previous gap down zone from July that started at $4.65. Any high-volume move above $4.65 will then give AMD a chance to tag $5 to $5.50.
Kemet
Kemet (KEM) is a manufacturer of capacitors. Its product offerings include tantalum, multilayer ceramic, solid and electrolytic aluminum, film and paper capacitors. This stock closed up 9.2% to $5.09 in Thursday's trading session.
Thursday's Range: $4.58-$5.20
52-Week Range: $3.69-$6.97
Thursday's Volume: 508,000
Three-Month Average Volume: 155,395
From a technical perspective, KEM soared higher here and broke out above some near-term overhead resistance at $4.98 with heavy upside volume. This stock flirted with its 200-day moving average on Thursday at $5.11, after it hit an intraday high of $5.20, but closed right below at $5.09. Volume on this move registered 508,000 shares, which was well above its three-month average action of 155,395 shares.
Traders should now look for long-biased trades in KEM as long as it's trending above Thursday's low of $4.58 and then once it sustains a move or close above Thursday's high of $5.20 with volume that hits near or above 155,395 shares. If we get that move soon, then KEM will set up to re-test or possibly take out its next major overhead resistance levels at $6 to $6.75.
United Microelectronics
United Microelectronics (UMC) manufactures advanced process integrated circuits wafers abnd related electronic products. This stock closed up 4.4% to $2.13 in Thursday's trading session.
Thursday's Range: $2.12-$2.15
52-Week Range: $1.75-$2.44
Thursday's Volume: 1.96 million
Three-Month Average Volume: 1.54 million
From a technical perspective, UMC jumped higher here right above its 50-day moving average of $2.03 with above-average volume. This stock has been uptrending for the last month and change, with shares moving higher from its low of $1.88 to its intraday high of $2.15. During that uptrend, shares of UMC have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of UMC within range of triggering a breakout trade. That trade will hit if UMC manages to take out some near-term overhead resistance levels at Thursday's high of $2.15 to $2.22 with high volume.
Traders should now look for long-biased trades in UMC as long as it's trending above its 50-day at $2.03 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.54 million shares. If that breakout triggers soon, then UMC will set up to re-test or possibly take out its next major overhead resistance levels at $2.39 to $2.59, or possible $2.64.
Superconductor Technologies
Superconductor Technologies (SCON) develops high temperature superconductor materials and related technologies. This stock closed up 8% to $1.74 in Thursday's trading session.
Thursday's Range: $1.60-$1.79
52-Week Range: $1.42-$6.72
Thursday's Volume: 774,000
Three-Month Average Volume: 229,234
From a technical perspective, SCON ripped sharply higher here with above-average volume. This stock recently formed a triple bottom in August at $1.42, $1.44 to $1.48. Following that bottom, shares of SCON have been modestly uptrending, with the stock trending above $1.50. This sharp spike higher on Thursday is now pushing shares of SCON within range of triggering a near-term breakout trade. That trade will hit if SCON manages to take out its 50-day moving average of $1.78 to more resistance at $1.95 with high volume.
Traders should now look for long-biased trades in SCON as long as it's trending above Thursday's low of $1.60 and then once it sustains a move or close above those breakout levels with volume that hits near or above 229,234 shares. If that breakout hits soon, then SCON will set up to re-test or possibly take out its next major overhead resistance levels at $2.25 to $2.85.
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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