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.
Parkervision
Parkervision (PRKR) designs, develops and markets proprietary radio frequency technologies and products for use in semiconductor circuits for wireless communication products in the U.S. This stock closed up 5.9% to $3.90 in Thursday's trading session.
Thursday's Range: $3.65-$4.00
52-Week Range: $1.82-$7.78
Thursday's Volume: 1.12 million
Three-Month Average Volume: 2.45 million
From a technical perspective, PRKR spiked sharply higher here right above its 50-day moving average of $3.48 and back above its 200-day moving average at $3.86 with lighter-than-average volume. This move is quickly pushing shares of PRKR within range of triggering a big breakout trade. That trade will hit if PRKR manages to take out some near-term overhead resistance levels at Thursday's high of $4 to $4.05 with high volume.
Traders should now look for long-biased trades in PRKR as long as it's trending above its 50-day at $3.48 or above more support at $3.45 and then once it sustains a move or close above those breakout levels with volume that hits near or above 2.45 million shares. If that breakout hits soon, then PRKR will set up for a potentially large move higher that takes the stock back towards $5 to $5.50.
Aviat Networks
Aviat Networks (AVNW) manufactures wireless networking products, solutions and services to mobile and fixed operators, private network operators, government agencies, transportation and utility companies, public safety agencies and broadcast network operators. This stock closed up 3.9% to $2.13 in Thursday's trading session.
Thursday's Range: $2.05-$2.13
52-Week Range: $1.93-$3.90
Thursday's Volume: 229,000
Three-Month Average Volume: 340,103
From a technical perspective, AVNW spiked higher here and broke out above some near-term overhead resistance at $2.12 with lighter-than-average volume. This stock has been trending sideways for the last month and change, with shares moving between $1.92 on the downside and $2.30 on the upside. Shares of AVNW are now starting to trend within range of triggering a big breakout trade above the upper-end of its recent sideways trading chart pattern. That breakout will hit if AVNW manages to take out some near-term overhead resistance levels at $2.16 to $2.30 with high volume.
Traders should now look for long-biased trades in AVNW as long as it's trending above some key near-term support levels at $2 or at $1.95 and then once it sustains a move or close above those breakout levels with volume that hits near or above 340,103 shares. If that breakout hits soon, then AVNW will set up to re-test or possibly take out its next major overhead resistance levels at $2.60 to around $2.80.
DragonWave
DragonWave (DRWI) is a provider of high-capacity packet microwave solutions that drive next-generation IP networks. This stock closed up 4.2% to $1.24 in Thursday's trading session.
Thursday's Range: $1.18-$1.29
52-Week Range: $1.08-$3.74
Thursday's Volume: 1.57 million
Three-Month Average Volume: 493,738
From a technical perspective, DRWI spiked sharply higher here with heavy upside volume. This stock has been downtrending badly for the last three months and change, with shares plunging lower from its high of $3.58 to its recent low of $1.08. During that downtrend, shares of DRWI have been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of DRWI might be ready to see an end to its downside volatility since the stock has started to spike higher over the last few days with heavy upside volume.
Traders should now look for long-biased trades in DRWI as long as it's trending above Thursday's low of $1.18 or above its 52-week low of $1.08 and then once it sustains a move or close above Thursday's high of $1.29 to more near-term resistance at $1.34 with volume that hits near or above 493,738 shares. If we get that move soon, then DRWI will set up to re-test or possibly take out its next major overhead resistance levels at $1.52 to its 50-day moving average at $1.64. Any high-volume move above $1.64 will then give DRWI a chance to tag $1.86 to $2, or even $2.20.
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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