5 Stocks Under $10 in Breakout Territory

DELAFIELD, Wis. ( Stockpickr) -- At Stockpickr, we track daily portfolios of stocks that are the biggest percentage gainers and the biggest percentage losers.

>>5 Breakout Trades Under $10

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.

>>5 Stocks With Big Insider Buying

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.

Cenveo

Cenveo ( CVO) provides an array of print and related solutions in the areas of envelops, custom labels, specialty packaging and business documents, among others. This stock closed up 4.6% to $3.16 a share in Thursday's trading session.

Thursday's Range: $2.87-$3.16
52-Week Range: $1.85-$3.22
Thursday's Volume: 3.70 million
Three-Month Average Volume: 634,385

From a technical perspective, CVO spiked sharply higher here right off its 50-day moving average of $2.95 with heavy upside volume. This stock has been uptrending for the last month and change, with shares moving higher from its low of $2.69 to its recent high of $3.22. During that uptrend, shares of CVO have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of CVO within range of triggering a big breakout trade. That trade will hit if CVO manages to take out some near-term overhead resistance at $3.20 to its 52-week high at $3.22 with high volume.

Traders should now look for long-biased trades in CVO as long as it's trending above Thursday's low of $2.87 or above more support at $2.80 and then once it sustains a move or close above those breakout levels with volume that hits near or above 634,385 shares. If that breakout hits soon, then CVO will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $3.50 to $4.

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