DELAFIELD, Wis. (Stockpickr) -- At Stockpickr, we track daily portfolios of stocks that are the biggest percentage gainers and the biggest percentage losers.
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 today.
Central European Media Enterprises
Central European Media Enterprises (CETV) is a media and entertainment company that operates broadcast, content and new media businesses in central and Eastern Europe. This stock closed up 8.7% to $2.37 in Tuesday's trading session.
Tuesday's Range: $2.20-$2.40
52-Week Range: $2.03-$6.85
Tuesday's Volume: 1.48 million
Three-Month Average Volume: 1.11 million
From a technical perspective, CETV ripped sharply higher here right off some near-term support at $2.17 with above-average volume. This move pushed shares of CETV into breakout territory, since the stock took out some near-term overhead resistance at $2.31. This move is also coming off oversold territory, since CETV's current relative strength index reading is 29.39. Market players should now look for a continuation move higher in the short-term if CETV can take out Tuesday's high of $2.40 to some more resistance at $2.53 with high volume.
Traders should now look for long-biased trades in CETV as long as it's trending above support at $2.17 or at $2.12 and then once it sustains a move or close above $2.40 to $2.53 with volume that hits near or above 1.11 million shares. If we get that move soon, then CETV will set up to re-test or possibly take out its next major overhead resistance levels at $3 to $3.18. Any high-volume move above $3.18 will then give CETV a chance to tag its 200-day at $4.17.
Body Central
Body Central (BODY) operates apparel stores and also conducts direct business via catalogues and Web site. This stock closed up 3.8% to $3.52 in Tuesday's trading session.
Tuesday's Range: $3.40-$3.55
52-Week Range: $3.09-$13.39
Tuesday's Volume: 475,000
Three-Month Average Volume: 421,188
From a technical perspective, BODY trended higher here right above some near-term support at $3.21 with above-average volume. This move pushed shares of BODY into breakout territory, since the stock took out some near-term overhead resistance at $3.50. This move is also coming off oversold territory, since BODY's current relative strength index reading is 29.89. Oversold can always get more oversold, but it's also an area where a stock can experience a powerful bounce from.
Traders should now look for long-biased trades in BODY as long as it's trending above some key near-term support levels at $3.21 or at $3.09 and then once it sustains a move or close above Tuesday's high of $3.55 with volume that hits near or above 421,188 shares. If we get that move soon, then BODY will set up to re-test or possibly take out its next major overhead resistance levels at $4 to $4.50.
Pingtan Marine Enterprise
Pingtan Marine Enterprise (PME) is a blank check company formed for the purpose of acquiring an operating business that has its main operations in the People's Republic of China. This stock closed up 6% to $3.00 in Tuesday's trading session.
Tuesday's Range: $2.57-$3.00
52-Week Range: $1.31-$12.50
Thursday's Volume: 104,000
Three-Month Average Volume: 72,735
From a technical perspective, PME ripped higher here right above its 50-day moving average of $2.29 with above-average volume. This stock has been uptrending strong for the last month and change, with shares moving higher from its low of $1.46 to its recent high of $3.15. During that uptrend, shares of PME have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of PME within range of triggering a near-term breakout trade. That trade will hit if PME manages to take out Tuesday's high of $3 to more resistance at $3.15 with high volume.
Traders should now look for long-biased trades in PME as long as it's trending above its 50-day at $2.29 and then once it sustains a move or close above those breakout levels with volume that hits near or above 72,735 shares. If that breakout triggers soon, then PME will set up to re-test or possibly take out its next major overhead resistance levels at $3.63 to $4.20. Any high-volume move above those levels will then give PME a chance to tag $5.
MEI Pharma
MEI Pharma (MEIP) is a development-stage oncology company engaged in the clinical development of novel small molecules for the treatment of cancer. This stock closed up 2% to $8.05 in Tuesday's trading session.
Tuesday's Range: $7.84-$8.13
52-Week Range: $4.37-$13.20
Thursday's Volume: 160,000
Three-Month Average Volume: 135,065
From a technical perspective, MEIP spiked modestly higher here with above-average volume. This stock has been downtrending badly for the last month and change, with shares dropping sharply lower from its high of $12.45 to its recent low of $7.30. During that move, shares of MEIP have been making mostly lower highs and lower lows, which is bearish technical price action. That said, the downside volatility could be over in the short-term for MEIP if the stock can take out some key near-term overhead resistance levels with volume.
Traders should now look for long-biased trades in MEIP as long as it's trending above support at $7.50 or at $7.30 and then once it sustains a move or close above $8.40 to its 50-day at $9.01 with volume that hits near or above 135,065 shares. If we get that move soon, then MEIP will set up to re-test or possibly take out its next major overhead resistance levels at $10 to $10.95.
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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