4 Health Care Stocks Under $10 to Watch: ImmunoGen, Bacterin and More

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 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.

Sunesis Pharmaceuticals

Sunesis Pharmaceuticals (SNSS) , a biopharmaceutical company, focuses on the development and commercialization of oncology therapeutics for the treatment of solid and hematologic cancers. This stock is trading up 2% to $2.45 in Thursday's trading session.

Thursday's Range: $2.39-$2.49
52-Week Range: $1.00-$8.46
Thursday's Volume: 269,000
Three-Month Average Volume: 1.44 million

From a technical perspective, SNSS is starting to trend higher here back above its 50-day moving average of $2.44 with lighter-than-average volume. This spike to the upside on Thursday is quickly pushing shares of SNSS within range of triggering a major breakout trade above some key near-term overhead resistance levels. That trade will hit if SNSS manages to take out some key near-term overhead resistance levels at $2.50 to $2.53 and then above $2.60 with high volume.

Traders should now look for long-biased trades in SNSS as long as it’s trending above some key near-term support levels at $2.21 or at $2.07 and then once it takes out those breakout levels with volume that registers near or above 1.44 million shares. If that breakout gets started soon, then SNSS will set up to re-test or possibly take out its next major overhead resistance level at $2.94. Any high-volume move above $2.94 will then give SNSS a chance to re-fill some of its previous gap-down-day zone from last October that started near $7.

Bacterin International

Bacterin International (BONE) develops, manufactures and markets biologics products in the U.S. and internationally. This stock is trading up 6% to $3.28 in Thursday's trading session.

Thursday's Range: $3.28-$3.39
52-Week Range: $2.19-$14.10
Thursday's Volume: 14,000
Three-Month Average Volume: 37,846

From a technical perspective, BONE is ripping higher here right above its 50-day moving average of $2.91 with lighter-than-average volume. This spike to the upside on Thursday has now pushed shares of BONE into breakout territory, since the stock has taken out some near-term overhead resistance at $3.30. Shares of BONE are now quickly moving within range of triggering a much bigger breakout trade. That trade will hit if BONE manages to take out some near-term overhead resistance at $3.50 with high volume.

Traders should now look for long-biased trades in BONE as long as it's trending above its 50-day moving average at $2.91 or above some more near-term support levels at $2.83 to $2.75 and then once it sustains a move or close above $3.50 with volume that hits near or above 37,846 shares. If that breakout triggers soon, then BONE will set up to re-test or possibly take out its next major overhead resistance levels at $4 to $4.35, or even $4.75.

PhotoMedex

PhotoMedex (PHMD) , a skin health company, provides integrated disease management and aesthetic solutions to dermatologists, professional aestheticians and consumers in North America, the Asia Pacific, Europe and South America. This stock is trading up 4.6% to $1.79 in Thursday's trading session.

Thursday's Range: $1.64-$1.79
52-Week Range: $1.01-$16.82
Thursday's Volume: 85,000
Three-Month Average Volume: 686,887

From a technical perspective, PHMD is ripping higher here right above its 50-day moving average of $1.57 with lighter-than-average volume. This stock recently formed a double bottom chart pattern at $1.35. Following that bottom, shares of PHMD have started to uptrend with the stock tagging a recent high of $2.15. Shares of PHMD are now starting to spike higher right off its 50-day and it's quickly moving within range of triggering a near-term breakout trade. That trade will hit if PHMD manages to take out some key near-term overhead resistance at $1.81 with high volume.

Traders should now look for long-biased trades in PHMD as long as it's trending above some key near-term support levels at $1.52 or above that double bottom support at $1.35 and then once it sustains a move or close above $1.81 with volume that hits near or above 686,887 shares. If that breakout develops soon, then PHMD will set up to re-test or possibly take out its next major overhead resistance levels at $2.15 to $2.95.

ImmunoGen

ImmunoGen (IMGN) , a biotechnology company, develops targeted anticancer therapeutics using its antibody-drug conjugates technology. This stock is trading up 3.2% to $7.64 in Thursday's trading session.

Thursday's Range: $7.26-$7.67
52-Week Range: $5.34-$17.80
Thursday's Volume: 487,000
Three-Month Average Volume: 1.85 million

From a technical perspective, IMGN is jumping higher here right off its 50-day moving average of $7.20 with decent upside volume flows. This stock has been uptrending strong over the last two months, with shares moving higher from its low of $5.34 to its recent high of $8.45. During that uptrend, shares of IMGN have been consistently making higher lows and higher highs, which is bullish technical price action. This spike to the upside on Thursday is now quickly pushing shares of IMGN within range of triggering a near-term breakout trade. That trade will hit if IMGN manages to take out some near-term overhead resistance at $7.75 with high volume.

Traders should now look for long-biased trades in IMGN as long as it's trending above some near-term support levels at $6.97 or at $6.66 and then once it sustains a move or close above $7.75 with volume that registers near or above 1.85 million shares. If that breakout materializes soon, then IMGN will set up to re-test or possibly take out its next major overhead resistance level at $8.45. Any high-volume move above $8.45 will then give IMGN a chance to re-fill some of its previous gap-down-day zone from last December that started at $11.

-- Written by Roberto Pedone in Delafield, Wis.

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This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.

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