Stocks that are making large moves to the upside are favorites among short-term traders who want to capture some of that massive volatility. Stocks that are making big-percentage moves 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 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.
Linn
- Tuesday's Range: $2.76-$3.09
- 52-Week Range: $1.88-$28
- Tuesday's Volume: 1.66 million
- Three-Month Average Volume: 2.63 million
Linn (LNCO - Get Report) focuses on the acquisition and development of oil and natural gas properties in the U.S. This stock is trading up 12.6% to $3.03 in Tuesday's trading session.
From a technical perspective, Linn is ripping sharply higher here right off its 20-day moving average of $2.73 and back above its 50-day moving average of $2.91 with decent upside volume flows. This strong move to the upside on Tuesday is now quickly pushing shares of Linn within range of triggering a major breakout trade above some key near-term overhead resistance levels. That trade will trigger if this stock manages to take out some near-term overhead resistance levels at $3.15 to $3.18 and then above more resistance at $3.34 with high volume.
Traders should now look for long-biased trades in Linn as long as it's trending above its 20-day moving average of $2.73 or above more near-term support at $2.60 and then once it sustains a move or close above those breakout levels with volume that hits near or above 2.63 million shares. If that breakout triggers soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $4 to $5 a share.
Linn Energy
- Tuesday's Range: $2.89-$3.34
- 52-Week Range: $2.01-$28.70
- Tuesdays Volume: 2.81 million
- Three-Month Average Volume: 5.07 million
Linn Energy (LINE - Get Report) , an independent oil and natural gas company, acquires and develops oil and natural gas properties in the U.S. This stock is trading up 10.3% to $3.31 in Tuesday's trading session.
From a technical perspective, Linn Energy is ripping sharply higher here back above both its 20-day moving average of $3.05 and its 50-day moving average of $3.16 with decent upside volume flows. This stock has been uptrending a bit over the last few weeks, with shares moving higher from its low of $2.50 to its intraday high of $3.33 a share. During that uptrend, shares of Linn Energy have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of Linn Energy within range of triggering a major breakout trade above some key near-term overhead resistance levels. That trade will trigger if this stock manages to take out some near-term overhead resistance levels at $3.61 to $3.87 with high volume.
Traders should now look for long-biased trades in Linn Energy as long as it's trending above some near-term support levels at $3 or at $2.89 and then once it sustains a move or close above those breakout levels with volume that hits near or above 5.07 million shares. If that breakout hits soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $5 to $6.10 a share.
Basic Energy Services
- Tuesday's Range: $4.06-$4.69
- 52-Week Range: $2.96-$19.09
- Tuesday's Volume: 2.42 million
- Three-Month Average Volume: 3.61 million
Basic Energy Services (BAS - Get Report) provides well site services to oil and natural gas drilling and producing companies in the U.S. This stock is trading up 11.9% to $4.60 in Tuesday's trading session.
From a technical perspective, Basic Energy Services is ripping sharply higher here right off its 20-day moving average of $4.16 with decent upside volume flows. This stock recently formed a double bottom chart pattern, after shares found buying interest at $3.11 to $2.96 a share. Following that bottom, shares of Basic Energy Services have now started to uptrend, with the stock moving sharply to the upside off that $2.96 low to its intraday high of $4.70 a share. That new uptrend is now quickly pushing this stock within range of triggering a near-term breakout trade. That breakout will trigger if this stock manages to take out some near-term overhead resistance levels at $4.84 to its 50-day moving average of $4.86 with high volume.
Traders should now look for long-biased trades in Basic Energy Services as long as it's trending above some near-term support levels at around $4 or at $3.82 and then once it sustains a move or close above those breakout levels with volume that hits near or 3.61 million shares. If that breakout triggers soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $5.59 to $6, or even its 200-day moving average of $6.77 a share.
Ocean Rig UDW
- Tuesday's Range: $2.17-$2.44
- 52-Week Range: $2.02-$15.54
- Tuesday's Volume: 2.28 million
- Three-Month Average Volume: 1.54 million
Ocean Rig UDW (ORIG - Get Report) , an offshore drilling contractor, provides oilfield services for offshore oil and gas exploration, development and production drilling. This stock is trading up 9.1% to $2.39 in Tuesday's trading session.
From a technical perspective, Ocean Rig UDW is ripping sharply higher here right above its new 52-week low of $2.02 and breaking out above some near-term overhead resistance at $2.27 with strong upside volume flows. This stock has been downtrending badly over the last five months, with shares collapsing off its high of $9.31 to that new 52-week low of $2.02 a share. During that downtrend, shares of Ocean Rig UDW have been consistently making lower highs and lower lows, which is bearish technical price action. That said, this stock is now starting to rip off that $2.02 low and it's quickly moving within range of triggering another big breakout trade. That trade will trigger if this stock manages to take out its 20-day moving average of $2.59 and then above more resistance at $2.76 with high volume.
Traders should now look for long-biased trades in Ocean Rig UDW as long as it's trending above Tuesday's intraday low of $2.17 or above its new 52-week low of $2.02 and then once it sustains a move or close above those breakout levels with volume that registers near or above 1.54 million shares. If that breakout gets set off soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at its 50-day moving average of $3.04 to $3.26, or even $3.29 to $3.78 a share.
By Roberto Pedone
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