4 Stocks Under $10 Making Big Moves 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.

Meru Networks

Meru Networks (MERU) , together with its subsidiaries, provides virtualized wireless local area network (LAN) solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. This stock closed up 2.9% to $3.81 in Tuesday’s trading session.

Tuesday's Range: $3.69-$3.83
52-Week Range: $2.93-$4.94
Tuesday's Volume: 61,000
Three-Month Average Volume: 77,661

From a technical perspective, MERU jumped higher here right off its 50-day moving average of $3.69 with decent upside volume flows. This spike higher on Tuesday is quickly staring to push shares of MERU within range of triggering a major breakout trade. That trade will hit if MERU manages to take out some near-term overhead resistance at $3.83 and then once it clears its 200-day moving average of $4.02 with high volume.

Traders should now look for long-biased trades in MERU as long as it's trending above its 50-day at $3.69 or above more near-term support at $3.60 and then once it sustains a move or close above those breakout levels with volume that hits near or above 77,661 shares. If that breakout develops soon, then MERU will set up to re-test or possibly take out its next major overhead resistance levels at $4.50 to $5.

Empire Resorts

Empire Resorts (NYNY) , through its subsidiaries, is engaged in hospitality and gaming industries in New York. This stock closed up 7.8% to $6.71 in Tuesday’s trading session.

Tuesday's Range: $6.14-$6.71
52-Week Range: $3.65-$9.39
Tuesday's Volume: 313,000
Three-Month Average Volume: 165,059

From a technical perspective, NYNY soared sharply higher here right off its 200-day moving average of $6.11 with above-average volume. This sharp spike to the upside on Tuesday also pushed shares of NYNY into breakout territory, since the stock took out some near-term overhead resistance at around $6.50. Market players should now look for a continuation move to the upside in the short-term if NYNY manages to take out Tuesday's intraday high of $6.71 with high volume.

Traders should now look for long-biased trades in NYNY as long as it's trending above its 50-day at $6.11 or above some more near-term support at $5.82 and then once it sustains a move or close above $6.71 with volume that hits near or above 165,059 shares. If that move materializes soon, then NYNY will set up to re-test or possibly take out its next major overhead resistance levels at $8 to $9.

CEL-SCI

CEL-SCI (CVM) is engaged in the research and development of drugs and vaccines. This stock closed up 5.9% to 91 cents per share in Tuesday's trading session.

Tuesday's Range: $0.87-$0.91
52-Week Range: $0.53-$1.90
Tuesday's Volume: 340,000
Three-Month Average Volume: 306,220

From a technical perspective, CVM ripped sharply higher here with above-average volume. This strong move to the upside on Tuesday is quickly pushing shares of CVM within range of triggering a major breakout trade. That trade will hit if CVM manages to take out some key near-term overhead resistance at 92 cents per share with high volume.

Traders should now look for long-biased trades in CVM as long as it's trending above Tuesday's intraday low of 87 cents per share or above more key near-term support at 80 cents per share and then once it sustains a move or close above 92 cents per share with volume that hits near or above 306,220 shares. If that breakout develops soon, then CVM will set up to re-test or possibly take out its next major overhead resistance levels at its 50-day moving average of $1.04 to its 200-day moving average of $1.12, or even $1.14 to $1.20.

Plug Power

Plug Power (PLUG) , an alternative energy technology provider, is engaged in the design, development, manufacture and commercialization of fuel cell systems for the industrial off-road markets worldwide. This stock closed up 2.6% to $4.59 in Tuesday's trading session.

Tuesday's Range: $4.50-$4.74
52-Week Range: $0.45-$11.72
Tuesday's Volume: 9.35 million
Three-Month Average Volume: 13.03 million

From a technical perspective, PLUG trended modestly higher here right above some near-term support at $4.20 with lighter-than-average volume. This stock recently came out of a downtrend that saw shares drop sharply from $6.47 to $4 over the last few months. Shares of PLUG have started to rebound off that $4 low and the stock has now made a higher low at $4.20. Shares of PLUG are now starting to trend within range of triggering a near-term breakout trade. That trade will hit if PLUG manages to take out its 200-day moving average of $4.77 with high volume.

Traders should now look for long-biased trades in PLUG as long as it's trending above Tuesday's intraday low of $4.50 or above more key near-term support at $4.20 and then once it sustains a move or close above its 200-day at $4.77 with volume that hits near or above 13.03 million shares. If that breakout kicks off soon, then PLUG will set up to re-test or possibly take out its next major overhead resistance levels at its 50-day moving average of $5.31 to $5.58, or even $6.

To see more stocks that are making notable moves higher, check out the Stocks Under $10 Moving Higher portfolio on Stockpickr.

-- Written by Roberto Pedone in Delafield, Wis.

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At the time of publication, author had no positions in stocks mentioned. Roberto Pedone, based out of Delafield, Wis., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.

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