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TheStreet Open House

3 Pharma Stocks Under $5 Trading Higher

Stocks in this article: DCTHVICLARCX

WINDERMERE, Fla. ( 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.

>>5 Earnings Stocks Poised to Pop

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.

>>4 Breakout Buys for January -- and One Sell

AcelRx Pharmaceuticals

AcelRx Pharmaceuticals (ACRX), a pharmaceutical company that develops and commercializes therapies for the treatment of pain, is trading up 5.5% to $4.79 in recent trading.

Today's Range: $4.49-$4.89

52-Week Range: $2.27-$5.25

Volume: 450,000

Three-Month Average Volume: 275,797

From a technical perspective, ACRX is ripping higher here right above some near-term support at $4.23 with above-average volume. This stock has been uptrending strongly for the last month and change, with shares moving higher from its low of $3.30 to its intraday high of $4.89. During that move, shares of ACRX have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed ACRX within range of triggering a major breakout trade. That trade will hit if ACRX takes out some near-term overhead resistance levels at $4.85 to $5.25 with high volume.

Traders should now look for long-biased trades in ACRX as long as it's trending above its 50-day at $3.92, and then once it sustains a move or close above those breakout levels with volume that hits near or above 275,797 shares. If that breakout triggers soon, then ACRX will set up to enter new 52-week-high territory above $5.25, which is bullish price action. Some possible upside targets off that breakout are $6 to $6.50 in the near future.

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