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.
Alexza Pharmaceuticals
Alexza Pharmaceuticals (ALXA) is a pharmaceutical company focused on the research, development and commercialization of novel proprietary products for the acute treatment of central nervous system conditions. This stock closed up 1.9% to $4.63 in Tuesday's trading session.
Tuesday's Range: $4.51-$4.73
52-Week Range: $2.91-$6.65
Tuesday's Volume: 509,000
Three-Month Average Volume: 421,914
From a technical perspective, ALXA trended modestly higher here right off its 50-day moving average at $4.48 with above-average volume. This move is quickly moving shares of ALXA within range of triggering a major breakout trade. That trade will hit if ALXA manages to take out some near-term overhead resistance levels at $4.80 to $4.86 and then once it clears more resistance at $5.20 with high volume.
Traders should now look for long-biased trades in ALXA as long as it's trending above its 50-day at $4.48 or above more support at $4.20 and then once it sustains a move or close above those breakout levels with volume that hits near or above 421,914 shares. If that breakout triggers soon, then ALXA will set up to re-test or possibly take out its 52-week high at $6.65.
Novavax
Novavax (NVAX) is a clinical-stage biopharmaceutical company focused on developing recombinant protein nanoparticle vaccines to address a range of infectious diseases. This stock closed up 3.1% to $2.59 in Tuesday's trading session.
Tuesday's Range: $2.47-$2.63
52-Week Range: $1.52-$2.77
Thursday's Volume: 1.37 million
Three-Month Average Volume: 1.53 million
From a technical perspective, NVAX spiked notably higher here right above some near-term support at $2.35 with decent upside volume. This move is quickly pushing shares of NVAX within range of triggering a major breakout trade. That trade will hit if NVAX manages to take out some near-term overhead resistance levels at $2.69 to $2.72 and then once it clears its 52-week high at $2.77 with high volume.
Traders should now look for long-biased trades in NVAX as long as it's trending above some near-term support at $2.35 or its 50-day at $2.19 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.53 million shares. If that breakout triggers soon, then NVAX will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $3.50 to $4.
Galectin Therapeutics
Galectin Therapeutics (GALT) offers drug research and development to create new therapies for fibrotic disease and cancer. This stock closed up 3.2% to $5.16 in Tuesday's trading session.
Tuesday's Range: $4.93-$5.17
52-Week Range: $1.60-$5.22
Tuesday's Volume: 81,000
Three-Month Average Volume: 52,581
From a technical perspective, GALT trended up here and broke out above some near-term overhead resistance at $5 with above-average volume. This move is quickly pushing shares of GALT within range of triggering another breakout trade. That trade will hit if GALT manages to take out its 52-week high at $5.22 with high volume.
Traders should now look for long-biased trades in GALT as long as it's trending above some near-term support at $4.75 and then once it sustains a move or close above $5.22 with volume that hits near or above 52,581 shares. If that breakout triggers soon, then GALT 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 to $6.78.
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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