3 Stocks Under $10 Making Big Moves

 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.

Tonix Pharmaceuticals

Tonix Pharmaceuticals (TNXP), a development stage specialty pharmaceutical company, focuses on the identification and development of pharmaceutical products for the disorders of central nervous system. This stock closed up 4.9% to $9.34 in Tuesday's trading session.

Tuesday's Range: $8.88-$9.42
52-Week Range: $3.00-$21.00
Tuesday's Volume: 98,000
Three-Month Average Volume: 122,864

From a technical perspective, TNXP jumped higher here right above its 200-day moving average of $8.57 with lighter-than-average volume. This stock has been downtrending badly for the last five months, with shares moving lower from its high of $21 to its recent low of $8.14 a share. During that downtrend, shares of TNXP have been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of TNXP have now started to bounce off its 200-day and it's starting to break out above some near-term overhead resistance at $9.27. Market players should now look for a continuation move to the upside if TNXP manages to clear Tuesday's intraday high of $9.42 with strong upside volume.

Traders should now look for long-biased trades in TNXP as long as its trending above Thursday's low of $8.88 or above its 200-day at $8.57 and then once it sustains a move or close above $9.42 with volume that hits near or above 122,864 shares. If that move materializes soon, then TNXP will set up to re-test or possibly take out its next major overhead resistance levels at $9.93 to its 50-day moving average of $9.97. Any high-volume move above those levels will then give TNXP a chance to tag its next major overhead resistance levels at $10.44 to $11.93.

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