4 Stocks Under $10 Moving Higher

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

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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.

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With that in mind, let's take a closer look at a several stocks under $10 that are making large moves to the upside.

Ariad Pharmaceuticals

Ariad Pharmaceuticals (ARIA), an oncology company, is engaged in the discovery, development and commercialization of medicines for cancer patients. This stock closed up 5.7% to $8.52 in Tuesday's trading session.

Tuesday's Range: $8.02-$8.55
52-Week Range: $2.15-$23.00
Tuesday's Volume: 11.92 million
Three-Month Average Volume: 20.55 million

From a technical perspective, ARIA spiked sharply higher here right off its 50-day moving average of $8.04 with lighter-than-average volume. This stock recently formed a double bottom chart pattern at $7.36 to $7.38 and shares of ARIA have rallied higher off those levels. That rally has now pushed ARIA within range of triggering a near-term breakout trade. That trade will hit if ARIA manages to take out some near-term overhead resistance at $8.56 with high volume.

Traders should now look for long-biased trades in ARIA as long as it's trending above those double bottom support levels and then once it sustains a move or close above $8.56 with volume that hits near or above 20.55 million shares. If that breakout gets underway soon, then ARIA will set up to re-test or possibly take out its next major overhead resistance levels at $9.13 to $9.22. Any high-volume move above those levels will then give ARIA a chance to tag $9.83 to its 200-day moving average of $11.22.

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