8 Stocks Under $10 Moving Higher

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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TearLab

TearLab ( TEAR) is an in-vitro diagnostic company engaged in commercializing a proprietary tear testing platform that enables eye care practitioners to test for highly sensitive and specific biomarkers using nanoliters of tear film. This stock closed up 7.4% to $5.92 on Thursday.

Thursday's Range: $5.50-$6.04

52-Week Range: $1.70-$6.04

Volume: 308,000

Three-Month Average Volume: 161,211

From a technical perspective, TEAR ripped higher here right above some near-term support at $5.30 with above-average volume. This move is quickly pushing shares of TEAR within range of triggering a major breakout trade. That trade will hit if TEAR manages to take out its 52-week high at $6.04 with high volume. Keep in mind that TEAR has been trending in a tight consolidation pattern for the last two months, with shares moving between $5.08 on the downside and $6.04 on the upside. If that breakout hits, it will spring TEAR outside of that consolidation pattern.

Traders should now look for long-biased trades in TEAR as long as it's trending above today's low of $5.50 or its 50-day moving average at $5.07 and then once it sustains a move or close above $6.04 with volume that hits near or above 161,211 shares. If that breakout triggers soon, then TEAR will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $7 to $8 in the near future.

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