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4 Stocks Under $10 Making Big Moves

Stocks in this article: ACADFSSPLGPSMI

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 Rocket Stocks You Should Buy as Stocks Drop

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.

>>5 Stocks Poised for Breakouts

Acadia Pharmaceuticals

Acadia Pharmaceuticals (ACAD), which is in the business of development and commercialization of small molecule drugs for the treatment of central nervous system disorders, is trading up 3.7% to $6.41 in recent trading.

Today's Range: $6.27-$6.64

52-Week Range: $1.29-$6.88

Volume: 2.32 million

Three-Month Average Volume: 1.67 million

Shares of ACAD are trending higher today after Jefferies initiated the stock with a buy rating.

From a technical perspective, ACAD is bouncing higher here right above its 50-day moving average of $5.98 with above-average volume. This stock has been trading inside of a consolidation pattern for the last two months and change, with shares moving between $5.72 on the downside and $6.88 on the upside. This spike is quickly pushing ACAD within range of triggering a breakout trade above the upper-end of its recent range. That trade will hit if ACAD manages to clear some near-term overhead resistance levels at $6.67 to $6.88 with high volume.

Traders should now look for long-biased trades in ACAD as long as it's trending above its 50-day at $5.98 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.67 million shares. If that breakout triggers soon, then ACAD will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $8 to $9.

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