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.
More from TheStreet.com:
AIG is back today, but what about tomorrow?
Eminent domain mortgage battle Is a lose-lose situation
Yelp's surging again
Radio One is a multimedia company that primarily targets African-American and urban consumers. This stock closed up 5.8 percent to $2.35 in Thursday's trading session.
Thursday's Range: $2.21-$2.40
52-Week Range: $0.68-$2.66
Thursday's Volume: 258,000
Three-Month Average Volume: 112,595
From a technical perspective, Radio One ripped higher here back above its 50-day moving average of $2.27 with above-average volume. This stock recently formed a triple bottom chart pattern at $2.10, $2.11 and $2.07. Following that bottom, shares of Radio One have started bounce sharply higher and move within range of triggering a major breakout trade. That trade will hit if the stock can manage to take out some near-term overhead resistance levels at $2.46 to its 52-week high at $2.66 with high volume.
Traders should now look for long-biased trades in Radio One as long as it's trending above some near-term support levels at $2.10 to $2.07 and then once it sustains a move or close above those breakout levels with volume that hits near or above 112,595 shares. If that breakout triggers soon, then the stock will set up to enter new 52-week-high territory above $2.66, which is bullish technical price action. Some possible upside targets off that breakout are $3 to $4.
(Read more: Cramer: This company has the holy grail)
Rite Aid operates a retail drugstore chain in the U.S. This stock closed up 4.3 percent to $3.13 in Thursday's trading session.
Thursday's Range: $3.03-$3.16
52-Week Range: $0.95-$3.21
Thursday's Volume: 35 million
Three-Month Average Volume: 22.88 million
From a technical perspective, Rite Aid spiked sharply higher here right above its 50-day moving average at $2.92 and into breakout territory above resistance at $3.09 with monster upside volume. This stock has been uptrending strong for the last month and change, with shares soaring higher from its low of $2.62 to its intraday high of $3.16. During that move, shares of Rite Aid have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of RAD within range of triggering a major breakout trade. That trade will hit if Rite Aid manages to take out its 52-week high at $3.21 with high volume.
Traders should now look for long-biased trades in RAD as long as it's trending above its 50-day at $2.92 or above more key support levels at $2.83 to $2.67,and then once it sustains a move or close above its 52-week high at $3.21 with volume that hits near or above 22.88 million shares. If that breakout triggers soon, then Rite Aid will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $4 to $5.
Cott is engaged in the production of beverages on behalf of retailers and distributors. This stock closed up 4.5 percent to $8.75 a share in Thursday's trading session.
Thursday's Range: $8.29-$8.84
52-Week Range: $7.24-$11.25
Thursday's Volume: 1.82 million
Three-Month Average Volume: 466,884