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.
Tasman Metals (TAS), a junior resource company, is engaged in the acquisition and exploration of rare earth elements and tungsten in Scandinavia. This stock closed up 8.5% to $1.39 a share in Tuesday's trading session.
Tuesday's Range: $1.26-$1.43
52-Week Range: $0.50-$1.58
Tuesday's Volume: 327,000
Three-Month Average Volume: 140,777
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From a technical perspective, TAS soared sharply higher here and broke out above some near-term overhead resistance at $1.36 with above-average volume. This stock has been uptrending strong for the last month, with shares moving higher from its low of $1 to its intraday high of $1.43. During that uptrend, shares of TAS have been making mostly higher lows and higher highs, which is bullish technical price action. Market players should now look for a continuation move higher in the short-term if TAS manages to take out Tuesdays' high of $1.43 with strong volume.
Traders should now look for long-biased trades in TAS as long as it's trending above Tuesday's low of $1.26 and then once it sustains a move or close above $1.43 with volume that hits near or above 140,777 shares. If that move gets underway soon, then TAS will set up to re-test or possibly take out its next major overhead resistance levels at its 52-week high of $1.58 to $2.04.
McEwen Mining (MUX) is engaged in the exploration for, development of, production and sale of gold, silver and copper. This stock closed up 4% to $3.07 a share in Tuesday's trading session.
Tuesday's Range: $2.97-$3.09
52-Week Range: $1.63-$3.20
Tuesday's Volume: 3.56 million
Three-Month Average Volume: 2.64 million
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From a technical perspective, MUX jumped notably higher here right above some near-term support at $2.90 to $2.85 with above-average volume. This move is quickly pushing shares of MUX within range of triggering a big breakout trade. That trade will hit if MUX manages to take out some near-term overhead resistance levels at $3.11 to its 52-week high at $3.20 with high volume.
Traders should now look for long-biased trades in MUX as long as it's trending above some key near-term support levels at $2.90 or at $2.85 and then once it sustains a move or close above those breakout levels with volume that hits near or above 2.64 million shares. If that breakout kicks off soon, then MUX will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are its next major overhead resistance levels at $4 to $5.
Entree Gold (EGI), an exploration stage company, engages in the development and exploration of mineral resource properties in Mongolia, the U.S., Peru and Australia. This stock closed up 2.5% to 40 cents per share in Tuesday's trading session.
Tuesday's Range: $0.38-0.42
52-Week Range: $0.22-$0.51
Tuesday's Volume: 200,000
Three-Month Average Volume: 116,682
From a technical perspective, EGI spiked modestly higher here right above its 50-day moving average of 36 cents per share with above-average volume. This move is quickly pushing shares of EGI within range of triggering a major breakout trade. That trade will hit if EGI manages to take out some near-term overhead resistance levels at 42 to 44 cents per share with high volume.
Traders should now look for long-biased trades in EGI as long as it's trending above its 50-day moving average of 36 cents per share or above its 200-day moving average at 34 cents per share and then once it sustains a move or close above those breakout levels with volume that hits near or above 116,682 shares. If that breakout materializes soon, then EGI will set up to re-test or possibly take out its next major overhead resistance levels at its 52-week high of 51 cents per share to 62 to 70 cents per share.
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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