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.
Xenoport
Xenoport (XNPT), a biopharmaceutical company, focuses on developing and commercializing a portfolio of internally discovered product candidates for the treatment of neurological and other disorders. This stock closed up 3.3% to $3.66 in Thursday's trading session.
Thursday's Range: $3.45-$3.82
52-Week Range: $3.15-$7.20
Thursday's Volume: 647,000
Three-Month Average Volume: 501,428
From a technical perspective, XNPT spiked notably higher here right above some near-term support at $3.25 with above-average volume. This stock has been downtrending badly for the last four months and change, with shares moving lower from its high of $7.20 to its recent 52-week low of $3.15. During that downtrend, shares of XNPT have been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of XNPT have now started to rebound off that $3.15 low and it's starting to trend within range of triggering a near-term breakout trade. That trade will hit if XNPT manages to take out some key near-term overhead resistance levels at $3.86 to $4 with high volume.
Traders should now look for long-biased trades in XNPT as long as it's trending above support at $3.25 or above its 52-week low of $3.15 and then once it sustains a move or close above those breakout levels with volume that hits near or above 501,428 shares. If that breakout triggers soon, then XNPT will set up to re-test or possibly take out its next major overhead resistance levels at $4.25 to $4.50, or even its 50-day moving average of $4.75. Any high-volume move above those levels will then give XNPT a chance to tag $5.24 to its 200-day moving average of $5.34.
Conatus Pharmaceuticals
Conatus Pharmaceuticals (CNAT), a biotechnology company, focuses on the development and commercialization of novel medicines to treat liver diseases in the U.S. This stock closed up 4.3% to $5.79 a share in Thursday's trading session.
Thursday's Range: $5.46-$5.85
52-Week Range: $5.06-$15.67
Thursday's Volume: 304,000
Three-Month Average Volume: 436,131
From a technical perspective, CNAT ripped higher here right above its 52-week low of $5.06 with decent upside volume. This stock has been downtrending badly for the last two months and change, with shares moving lower from $13.18 to its 52-week low of $5.06. During that move, shares of CNAT have been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of CNAT have now started to rebound off its 52-week low of $5.06 and it's now moving within range of triggering a near-term breakout trade. That trade will hit of CNAT manages to take Thursday's high of $5.86 to more resistance at $6 with high volume.
Traders should now look for long-biased trades in CNAT as long as it's trending above its 52-week low of $5.06 and then once it sustains a move or close above those breakout levels with volume that hits near or above 436,131 shares. If that breakout starts soon, then CNAT will set up to re-test or possibly take out its next major overhead resistance levels at $6.40 to $6.87. Any high-volume move above those levels will then give CNAT a chance to tag its 50-day moving average of $7.92 to more resistance at $8.10.
Raptor Pharmaceuticals
Raptor Pharmaceuticals (RPTP), a biopharmaceutical company, focuses on developing and commercializing life-altering therapeutics that treat debilitating and often fatal diseases. This stock closed up 8.9% to $8.52 a share in Thursday's trading session.
Thursday's Range: $7.73-$8.60
52-Week Range: $5.75-$17.72
Thursday's Volume: 1.02 million
Three-Month Average Volume: 1.22 million
From a technical perspective, RPTP soared higher here right above its recent low of $7.12 with decent upside volume. This sharp spike higher on Thursday pushed shares of RPTP into breakout territory, since the stock took out some near-term overhead resistance levels at $8.18 to $8.44. Shares of RPTP are now moving within range of triggering another near-term breakout trade. That trade will hit if RPTP manages to take out some key near-term overhead resistance levels at $8.63 to $9.09 with high volume.
Traders should now look for long-biased trades in RPTP as long as it's trending above $8 or above Thursday's intraday low of $7.72 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.22 million shares. If that breakout begins soon, then RPTP will set up to re-test or possibly take out its 50-day moving average at $9.68 to more near-term overhead resistance levels at $10.50 to $11.
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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