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.
Salem Communications
Salem Communications (SALM) is a domestic multimedia company with integrated business operations covering radio broadcasting, publishing and the Internet. This stock closed up 8.8% to $7.84 in Thursday's trading session.
Thursday's Range: $7.23-$7.87
52-Week Range: $4.62-$10.14
Thursday's Volume: 62,000
Three-Month Average Volume: 38,783
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From a technical perspective, SALM bounced sharply higher here right above some near-term support at $7.20 and back above its 50-day moving average at $7.73 with above-average volume. This stock has been trending sideways for the last three months and change, with shares moving between $7 on the downside and $8.22 on the upside. Shares of SALM are now quickly moving within range of triggering a major breakout trade above the upper-end of its recent sideways trading chart pattern. That breakout will hit if SALM manages to take out some near-term overhead resistance levels at $8 to $8.22 with high volume.
Traders should now look for long-biased trades in SALM as long as it's trending above some key near-term support levels at $7.20 or above its 200-day at $6.95 and then once it sustains a move or close above those breakout levels with volume that hits near or above 38,783 shares. If that breakout triggers soon, then SALM will set up to re-test or possibly take out its next major overhead resistance levels at $9.27 to $10.
Key Energy Services
Key Energy Services (KEG) provides well services to oil companies, foreign national oil companies and independent oil and natural gas production companies. This stock closed up 5.7% to $6.84 in Thursday's trading session.
Thursday's Range: $6.48-$6.94
52-Week Range: $5.61-$9.57
Thursday's Volume: 1.42 million
Three-Month Average Volume: 2.39 million
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From a technical perspective, KEG ripped higher here right above its 50-day moving average of $6.39 with lighter-than-average volume. This move is quickly pushing shares of KEG within range of triggering a major breakout trade. That trade will hit if KEG manages to take out some near-term overhead resistance levels at $6.89 to its 200-day moving average at $7 with high volume.
Traders should now look for long-biased trades in KEG as long as it's trending above its 50-day at $6.39 or above more support at $6.06 and then once it sustains a move or close above those breakout levels with volume that hits near or above 2.39 million shares. If that breakout triggers soon, then KEG will set up to re-test or possibly take out its next major overhead resistance levels at $7.35 to $7.89. Any high-volume move above those levels will then put its next major overhead resistance levels at $8.25 to $8.92 within range for shares of KEG.
Mecox Lane
Mecox Lane (MCOX) offers a selection of products apparel, accessories and home and health care products through its online platform and third party e-commerce Web sites. This stock closed up 9.5% to $3.66 in Thursday's trading session.
Thursday's Range: $3.23-$3.80
52-Week Range: $1.67-$7.88
Thursday's Volume: 179,000
Three-Month Average Volume: 207,259
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From a technical perspective, MCOX bounced sharply higher here right above its 200-day moving average of $3.06 with decent upside volume. This stock recently pulled back sharply from its high of $7.88 to its recent low of $3.30. During that pullback, shares of MCOX have been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of MCOX might be ready to see its downside volatility cease, and the stock spike sharply higher.
Traders should now look for long-biased trades in MCOX as long as it's trending above its recent low at $3.30 or above its 50-day at $2.98 and then once it sustains a move or close above some near-term overhead resistance at $4 with volume that hits near or above 207,259 shares. If we get that move soon, then MCOX will set up to re-test or possibly take out its next major overhead resistance levels at $4.76 to its gap down day high at $5.15. Any high-volume move above those levels will then give MCOX a chance to re-fill some of its previous gap down zone from this month that started at $7.88.
Yingli Green Energy
Yingli Green Energy (YGE) engages in the design, development, marketing, manufacture, installation and sale of photovoltaic products. This stock closed up 1.9% to $4.19 in Thursday's trading session.
Thursday's Range: $3.93-$4.27
52-Week Range: $1.25-$4.83
Thursday's Volume: 6.62 million
Three-Month Average Volume: 4.45 million
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From a technical perspective, YGE spiked modestly higher here right above its 50-day moving average of $3.68 with heavy upside volume. This stock recently formed a double bottom chart pattern at $3.57 to $3.55. Following that bottom, shares of YGE have started to trend higher and move within range of triggering a major breakout trade. That trade will hit if YGE manages to take out some near-term overhead resistance levels at $4.40 to its 52-week high at $4.83 with high volume.
Traders should now look for long-biased trades in YGE as long as it's trending above some key near-term support at $3.55 and then once it sustains a move or close above those breakout levels with volume that hits near or above 4.45 million shares. If that breakout hits soon, then YGE will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are its next major overhead resistance levels at $6.27 to $7.
Nautilus
Nautilus (NLS), a fitness products company, provides solutions to help people achieve a fit and healthy lifestyle. This stock closed up 4.7% to $6.79 in Thursday's trading session.
Thursday's Range: $6.49-$6.88
52-Week Range: $2.28-$9.87
Thursday's Volume: 338,000
Three-Month Average Volume: 487,173
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From a technical perspective, NLS jumped higher here right above its 200-day moving average of $6.37 with lighter-than-average volume. This stock recently dropped sharply from its high of $9.87 to its low of $6.15 with heavy downside volume. During that drop, shares of NLS have been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of NLS have held above its 200-day following the drop, and the stock now looks ready to cease its downside volatility. Shares of NLS are starting to move within range of triggering a near-term breakout trade. That trade will hit if NLS manages to clear some near-term overhead resistance at $6.99 with high volume.
Traders should now look for long-biased trades in NLS as long as it's trending above its 200-day at $6.37 or above more near-term support at $6.15 and then once it sustains a move or close above $6.99 with volume that hits near or above 487,173 shares. If that breakout hits soon, then NLS will set up to re-test or possibly take out its next major overhead resistance levels $8 to its 50-day at $8.25.
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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