DELAFIELD, Wis. (Stockpickr) – As part of a daily routine as an active trader or investor, one should always be tracking the stocks in the market that are making the biggest percentage gains and the biggest percentage losses.

Stocks that are making large moves to the upside 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.

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.

A.M. Castle

A.M. Castle (CAS) , together with its subsidiaries, operates as a specialty metals and plastics distribution company in the U.S., Canada, Mexico, France, the U.K., Spain, China and Singapore. This stock is trading up 5% to $3.93 in Tuesday's trading session.

Tuesday's Range: $3.75-$3.93
52-Week Range: $2.80-$14.77
Tuesday's Volume: 33,000
Three-Month Average Volume: 310,689

From a technical perspective, CAS is spiking sharply higher here and breaking out above some near-term overhead resistance at $3.71 with lighter-than-average volume. This stock has been uptrending over the last month and change, with shares moving higher from its low of $2.80 to its recent high of $4.09. During that uptrend, shares of CAS have been making mostly higher lows and higher highs, which is bullish technical price action. This spike to the upside on Tuesday is starting to push shares of CAS within range of triggering a big breakout trade. That trade will trigger if CAS manages to take out some key near-term overhead resistance at $4.09 with high volume.

Traders should now look for long-biased trades in CAS as long as it's trending above some near-term support at $3.50 or at $3.44 and then once it sustains a move or close above those breakout levels with volume that registers near or above 310,689 shares. If that breakout hits soon, then CAS will set up to re-test or possibly take out its next major overhead resistance levels at its 50-day moving average of $4.63 to $5, or even $5.50.

Warren Resources

Warren Resources (WRES) , an independent energy company, engages in the exploration, development and production of domestic onshore crude oil and gas reserves This stock is trading up 5.6% to $1.01 in Tuesday's trading session.

Tuesday's Range: $0.96-$1.03
52-Week Range: $0.84-$7.02
Tuesday's Volume: 804,000
Three-Month Average Volume: 1.60 million

From a technical perspective, WRES is spiking sharply higher here with decent upside volume flows. This move higher on Tuesday is quickly pushing shares of WRES within range of triggering a major breakout trade above some key near-term overhead resistance levels. That trade will hit if WRES manages to take out some key near-term overhead resistance levels at $1.04 and then above its 50-day moving average of $1.11 with high volume.

Traders should now look for long-biased trades in WRES as long as it's trending above Tuesday's intraday low of 96 cents per share or above 90 cents per share and then once it sustains a move or close above those breakout levels with volume that registers near or above 1.60 million shares. If that breakout develops soon, then WRES will set up to re-test or possibly take out its next major overhead resistance levels at $1.30 to $1.50.

Midstates Petroleum

Midstates Petroleum (MPO) engages in the exploration, development, and production of oil, natural gas liquids and natural gas in the U.S. This stock is trading up 8.6% to $1.03 in Tuesday's trading session.

Tuesday's Range: $0.93-$1.04
52-Week Range: $0.72-$7.50
Tuesday's Volume: 599,000
Three-Month Average Volume: 1.27 million

From a technical perspective, MPO is spiking sharply higher here with decent upside volume flows. This stock has been downtrending badly for the last four months, with shares falling sharply lower from its high of $1.90 to its new 52-week low of 72 cents per share. During that downtrend, shares of MPO have been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of MPO have started to rebound off that 72 cents low and it's now beginning to move within range of triggering a near-term breakout trade. That trade will trigger if MPO manages to take out some key near-term overhead resistance levels at $1.03 to $1.05 and then above its 50-day moving average of $1.06 with high volume.

Traders should now look for long-biased trades in MPO as long as it’s trending above Tuesday's intraday low of 93 cents per share or above 90 cents per share and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.27 million shares. If that breakout begins soon, then MPO will set up to re-test or possibly take out its next major overhead resistance levels at $1.18 to $1.25, or even $1.50.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.