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.
With that in mind, let's take a closer look at a several stocks under $10 that are making large moves to the upside.
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Zynga
Zynga (ZNGA) develops, markets, and operates online social games as live services played on the Internet, social networking sites and mobile platforms in the U.S. and internationally. This stock closed up 4.3% to $3.15 in Wednesday's trading session.
Wednesday's Range: $3.02-$3.15
52-Week Range: $2.70-$5.89
Wednesday's Volume: 31.24 million
Three-Month Average Volume: 18.06 million
From a technical perspective, ZNGA ripped higher here right off its 50-day moving average of $2.99 with heavy upside volume flows. This move to the upside on Wednesday also pushed shares of ZNGA into breakout territory, since the stock took out some near-term overhead resistance levels at $3.09 to $3.15. Shares of ZNGA are now starting to trend within range of triggering another big breakout trade. That trade will hit if ZNGA manages to take out some past overhead resistance levels at $3.27 to $3.29 with high volume.
Traders should now look for long-biased trades in ZNGA as long as it's trending above its 50-day at $2.99 or above more near-term support at $2.82 and then once it sustains a move or close above those breakout levels with volume that hits near or above 18.06 million shares. If that breakout triggers soon, then ZNGA will set up to re-test or possibly take out its next major overhead resistance levels at $3.51 to $3.52, or even $3.81 to $4.13.
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inContact
inContact (SAAS) provides cloud contact center software solutions and network connectivity services in the U.S. This stock closed up 2.7% to $9.36 in Wednesday's trading session.
Wednesday's Range: $9.14-$9.42
52-Week Range: $6.93-$10.54
Wednesday's Volume: 394,000
Three-Month Average Volume: 223,116
From a technical perspective, SAAS moved notably higher here right above some near-term support at $8.92 and just above its 50-day moving average of $8.79 with above-average volume. This spike to the upside on Wednesday is starting to push shares of SAAS within range of triggering a big breakout trade. That trade will hit if SAAS manages to take out some key near-term overhead resistance levels at $9.48 to $9.58 with high volume.
Traders should now look for long-biased trades in SAAS as long as it's trending above $8.92 or above its 50-day at $8.79 and then once it sustains a move or close above those breakout levels with volume that hits near or above 223,116 shares. If that breakout kicks off soon, then SAAS will set up to re-test or possibly take out its next major overhead resistance level at its 52-week high of $10.54.
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ChinaNet Online
ChinaNet Online (CNET), through its subsidiaries, provides business-to-businesses Internet services for small and medium enterprises sales networks in the People's Republic of China. This stock closed up 4.6% to $1.12 in Wednesday's trading session.
Wednesday's Range: $0.96-$1.19
52-Week Range: $0.54-$2.75
Wednesday's Volume: 555,000
Three-Month Average Volume: 151,883
From a technical perspective, CNET jumped higher here back above its 200-day moving average of $1.01 with strong upside volume flows. This stock recently formed a double bottom chart pattern at 83 cents per share. Following that bottom, shares of CNET are now starting soar higher and move within range of triggering a near-term breakout trade. That trade will hit if CNET manages to clear Wednesday's intraday high of $1.19 to some more near-term overhead resistance at $1.26 with high volume.
Traders should now look for long-biased trades in CNET as long as it's trending above Wednesday's intraday low of 96 cents per share and then once it sustains a move or close above those breakout levels with volume that hits near or above 151,883 shares. If that breakout begins soon, then CNET will set up to re-test or possibly take out its next major overhead resistance levels at $1.44 to $1.60.
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NQ Mobile
NQ Mobile (NQ) provides mobile Internet services in the areas of mobile security, privacy, productivity, personalized cloud and family protection. This stock closed up 4.9% to $6.16 in Wednesday's trading session.
Wednesday's Range: $5.86-$6.54
52-Week Range: $3.45-$25.90
Wednesday's Volume: 4.34 million
Three-Month Average Volume: 5.94 million
From a technical perspective, NQ ripped higher here right above some near-term support at $5.70 with lighter-than-average volume. This jump to the upside on Wednesday also briefly pushed shares of NQ back above its 50-day moving average of $6.17. Shares of NQ tagged an intraday high of $6.54, before closing just below that level at $6.16. This move is now starting to push shares of NQ within range of triggering a big breakout trade. That trade will hit if NQ manages to take out some key near-term overhead resistance levels at Wednesday's intraday high of $6.54 to some more near-term overhead resistance levels at $6.77 to $7.18 with high volume.
Traders should now look for long-biased trades in NQ as long as it's trending above Wednesday's intraday low of $5.86 or above some more near-term support at $5.70 and then once it sustains a move or close above those breakout levels with volume that hits near or above 5.94 million shares. If that breakout begins soon, then NQ will set up to re-test or possibly take out its next major overhead resistance levels at around $7.50 to $8.44.
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TransEnterix
TransEnterix (TRXC), a medical device company, focuses on the development and commercialization of a robotic assisted surgical system in the U.S. This stock closed up 6.4% to $3.95 in Wednesday's trading session.
Wednesday's Range: $3.68-$4.01
52-Week Range: $0.36-$14.00
Wednesday's Volume: 73,000
Three-Month Average Volume: 182,998
From a technical perspective, TRXC ripped higher here right above some near-term support at $3.65 with lighter-than-average volume. This stock has formed a major bottoming chart pattern over the last month and change, with shares finding buying interest each time it has pulled back to around $3.50. Shares of TRXC are now starting to bounce higher right off those support levels and it's quickly moving within range of triggering a near-term breakout trade. That trade will hit if TRXC manages to take out its 50-day moving average of $4.07 to some more near-term overhead resistance at $4.18 with high volume.
Traders should now look for long-biased trades in TRXC as long as it's trending above some key near-term support levels at $3.65 or at $3.52 and then once it sustains a move or close above those breakout levels with volume that hits near or above 182,998 shares. If that breakout develops soon, then TRXC will set up to re-test or possibly take out its next major overhead resistance levels at $4.31 to $4.55, or even $4.73 a share. Any high-volume move above $4.73 will then give TRXC a chance to tag $5.50.
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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