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.
Town Sports International
Town Sports International (CLUB), together with its subsidiaries, owns and operates fitness clubs in the Northeast and Mid-Atlantic regions of the U.S. This stock closed up 5.8% to $6.02 in Tuesday's trading session.
Tuesday's Range: $5.70-$6.05
52-Week Range: $5.65-$14.96
Tuesday's Volume: 935,000
Three-Month Average Volume: 157,250
From a technical perspective, CLUB spiked sharply higher here right above some near-term support at $5.69 with strong upside volume. This stock recently formed a triple bottom chart pattern at $5.70, $5.65 and $5.69. Shares of CLUB are now starting to spike higher off those support levels and it's quickly moving within range of triggering a major breakout trade. That trade will hit if CLUB manages to take out some key near-term overhead resistance levels at $6.09 to $6.25 and then once it clears more resistance at $6.50 with high volume.
Traders should now look for long-biased trades in CLUB as long as it's trending above those triple bottom support levels and then once it sustains a move or close above those breakout levels with volume that hits near or above 157,250 shares. If that breakout gets underway soon, then CLUB will set up to re-test or possibly take out its next major overhead resistance levels at $7 to $8, or even $8.50 to $9.36
Doral Financial
Doral Financial (DRL) operates as the bank holding company for Doral Bank that provides retail banking services to general public and institutions. This stock closed up 5% to $4.59 in Tuesday's trading session.
Tuesday's Range: $4.33-$4.95
52-Week Range: $1.87-$25.00
Tuesday's Volume: 811,000
Three-Month Average Volume: 977,550
From a technical perspective, DRL spiked sharply higher here right above some near-term support at $4.22 with decent upside volume. This stock recently formed a double bottom chart pattern at $4.27 to $4.22. Following that bottom, shares of DRL have started to uptick and move within range of triggering a major breakout trade. That trade will hit if DRL manages to take out Tuesday's intraday high of $4.95 to its 50-day at $5.12 and then once it clears more key overhead resistance at $5.40 with high volume.
Traders should now look for long-biased trades in DRL as long as it's trending above those double bottom support levels and then once it sustains a move or close above those breakout levels with volume that hits near or above 977,550 shares. If that breakout triggers soon, then DRL will have a chance to re-test or possibly take out its next major overhead resistance level its gap-down-day high of around $8 from back in May.
Entravision Communications
Entravision Communications (EVC), together with its subsidiaries, operates as a Spanish-language media company that utilizes a combination of television and radio operations to reach Hispanic consumers in the U.S. and the border markets of Mexico. This stock closed up 5.2% to $5.64 Tuesday's trading session.
Tuesday's Range: $5.37-$5.67
52-Week Range: $4.27-$7.36
Tuesday's Volume: 886,000
Three-Month Average Volume: 600,350
From a technical perspective, EVC bounced sharply higher here right off its 50-day moving average of $5.38 with above-average volume. This stock has been trending range bound and consolidating for the last month and change, with shares moving between $4.98 on the downside and $5.82 on the upside. This spike higher on Tuesday is starting to push shares of EVC within range of triggering a near-term breakout trade above the upper-end of its recent sideways trading chart pattern. That trade will hit if EVC manages to take out some key near-term overhead resistance levels at $5.82 to its 200-day moving average of $5.90 with high volume.
Traders should now look for long-biased trades in EVC as long as it's trending above its 50-day at $5.37 or above more near-term support around $5 and then once it sustains a move or close above those breakout levels with volume that hits near or above 600,350 shares. If that breakout kicks off soon, then EVC will set up to re-test or possibly take out its next major overhead resistance levels at $6.50 to $6.74, or even $7 to its 52-week high at $7.36.
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LivePerson
LivePerson (LPSN), provides digital engagement solutions that facilitate real-time assistance and expert advice in the U.S., Canada, Latin America, Europe and the Asia-Pacific region. This stock closed up 3.3% to $9.75 in Tuesday's trading session.
Tuesday's Range: $9.46-$9.76
52-Week Range: $8.79-$15.24
Tuesday's Volume: 659,000
Three-Month Average Volume: 381,319
From a technical perspective, LPSN jumped notably higher here and broke out above some near-term overhead resistance at $9.57 with above-average volume. This move also pushed shares of LPSN back above its 50-day moving average of $9.74. Market players should now look for a continuation move to the upside in the short-term if LPSN manages to take out Tuesday's intraday high of $9.76 to some more key overhead resistance at $10.18 with high volume.
Traders should now look for long-biased trades in LPSN as long as it's trending above Tuesday's intraday low of $9.46 or above $9 and then once it sustains a move or close above $9.76 to $10.18 with volume that hits near or above 381,319 shares. If that move gets started soon, then LPSN will set up to re-test or possibly take out its next major overhead resistance levels at $11.22 to its 200-day moving average of $11.31. Any high-volume move above those levels will then give LPSN a chance to tag its next major overhead resistance level at $12.35.
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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