DELAFIELD, Wis. (Stockpickr) -- At Stockpickr, we track daily portfolios of stocks that are the biggest percentage gainers and the biggest percentage losers.
>>5 Stocks Under $10 Set to Soar
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 today.
Ariad Pharmaceuticals
Ariad Pharmaceuticals (ARIA) is engaged in the discovery and development of breakthrough medicines to treat cancers by regulating cell signaling with small molecules. This stock closed up 8.5% to $2.79 in Thursday's trading session.
Thursday's Range: $2.58-$2.81
52-Week Range: $2.51-$24.59
Thursday's Volume: 9.66 million
Three-Month Average Volume: 11.93 million
From a technical perspective, ARIA spiked sharply higher here and broke out above some near-term overhead resistance at $2.70 with decent upside volume. This move is quickly pushing shares of ARIA within range of triggering a major breakout trade. That trade will hit if ARIA manages to take out Thursday's high of $2.81 to some more near-term overhead resistance at $2.82 with high volume.
Traders should now look for long-biased trades in ARIA as long as it's trending above Thursday's low of $2.58 or above more support at $2.33 and then once it sustains a move or close above those breakout levels with volume that hits near or above 11.93 million shares. If that breakout hits soon, then ARIA will set up to re-fill some of its previous gap down zone from October that started just above $4.
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