13 Stocks Under $10 Setting up to Spike Higher

Delafield, Wis. ( 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.

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.

Venaxis ( APPY)

This company advances products that address unmet human diagnostic needs. This stock closed up 6.2% to $1.37 in Thursday's trading session.

Thursday's Range: $1.27-$1.40

52-Week Range: $1.15-$3.18

Thursday's Volume: 1.33 million

Three-Month Average Volume: 878,238

From a technical perspective, APPY ripped higher here right off some near-term support at $1.25 and back above its 50-day moving average at $1.35 with above-average volume. This move is quickly pushing shares of APPY within range of triggering a major breakout trade. That trade will hit if APPY manages to take out some near-term overhead resistance levels at $1.41 to $1.45 with high volume.

Traders should now look for long-biased trades in APPY as long as it's trending above support at $1.25, and then once it sustains a move or close above those breakout levels with volume that hits near or above 878,238 shares. If that breakout hits soon, then APPY will set up to re-test or possibly take out its next major overhead resistance levels at $1.70 to $1.80. Any high-volume move above those levels will then put its next major resistance levels at $1.94 to its 200-day at $2.03 into range for shares of APPY.

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