2 Biotech Stocks Under $10 to Watch

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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Imprimis Pharmaceuticals

Imprimis Pharmaceuticals ( IMMY) is a pharmaceutical company developing non-invasive, topically delivered products. This stock is trading up 12.6% to $6.76 in recent trading.

Today's Range: $5.99-$6.76

52-Week Range: $2.55-$30.00

Volume: 52,000

Three-Month Average Volume: 20,531

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From a technical perspective, IMMY is bouncing strongly to the upside here right off its 50-day moving average of $5.87 with above-average volume. This move is starting to push shares of IMMY into breakout territory, since the stock has taken out some near-term overhead resistance levels at $6.09 to $6.35. Shares of IMMY are now quickly moving within range of triggering another major breakout trade. That trade will hit if IMMY manages to take out its 200-day moving average at $6.78 with high volume.

Traders should now look for long-biased trades in IMMY as long as it's trending above $6.09 or $5.87 and then once it sustains a move or close above all of those breakout levels with volume that hits near or above 20,531 shares. If that breakout triggers soon, then IMMY will set up to re-fill some of its previous gap down zone from February that started near $9.

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