3 Stocks Under $10 Making Big Moves

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.

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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.

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Horizon Pharma

Horizon Pharma (HZNP) is a biopharmaceutical company that is developing and commercializing innovative medicines to target unmet therapeutic needs in arthritis, pain and inflammatory diseases. This stock closed up 5.8% to $2.35 on Thursday.

Thursday's Range: $2.22-$2.37

52-Week Range: $1.97-$8.72

Volume: 749,000

Three-Month Average Volume: 508,732

From a technical perspective, HZNP ripped higher here back above its 50-day moving average of $2.31 with above-average volume. This move is quickly pushing shares of HZNP within range of triggering a near-term breakout trade. That trade will hit if HZNP manages to take out some near-term overhead resistance levels at $2.52 to $2.58 and then once it clears more resistance at 2.78 to $2.85 with high volume.

Traders should now look for long-biased trades in HZNP as long as it's trending above some key near-term support levels at $2.20 to $2.16 and then once it sustains a move or close above those breakout levels with volume that hits near or above 508,732 shares. If that breakout triggers soon, then HZNP will set up to re-test or possibly take out its next major overhead resistance levels at $3.50 to its 200-day moving average at $3.67.

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