4 Stocks Under $10 Making Big Moves Higher

DELAFIELD, Wis. (Stockpickr) -- As part of a daily routine as an active trader or investor, one should always be tracking the stocks in the market that are making the biggest percentage gains and the biggest percentage losses.

Stocks that are making large moves to the upside 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.

Solazyme

Solazyme (SZYM) manufactures and sells renewable oils and other bioproducts. This stock is trading up 1.8% to $2.78 in Tuesday's trading session.

Tuesday's Range: $2.60-$2.78
52-Week Range: $2.00-$15.00
Tuesday's Volume: 301,000
Three-Month Average Volume: 1.01 million

From a technical perspective, SZYM is counter-trending slightly higher here right above its 50-day moving average of $2.46 with lighter-than-average volume. This stock recently formed a triple bottom chart pattern, after shares found buying interest over the last month at $2.43, $2.45 and $2.40 a share. That bottom developed right around or above SZYM's 50-day moving average. This stock is now starting to trend to the upside off those support levels and its now beginning to move within range of triggering a major breakout trade. That trade will hit if SZYM manages to take out some key overhead resistance levels at $2.80 to $2.89 and then above $2.97 with high volume.

Traders should now look for long-biased trades in SZYM as long as it's trending above those triple bottom support levels and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.01 million shares. If that breakout triggers soon, then SZYM will set up to re-test or possibly take out its next major overhead resistance levels at $3.50 to $3.60, or even $4. Any high-volume move above $4 will then give SZYM a chance to re-fill some of its previous gap-down-day zone from last November that started near $7.50.

Cardica

Cardica  (CRDC) designs, manufactures, and markets automated anastomotic systems for use by cardiac surgeons to perform coronary bypass surgery in the U.S. and internationally. This stock is trading up 5.9% to 58 cents per share in Tuesday's trading session.

Tuesday's Range: $0.56-$0.59
52-Week Range: $0.46-$1.32
Tuesday's Volume: 237,000
Three-Month Average Volume: 268,373

From a technical perspective, CRDC is counter-trending higher here right above some near-term support at 50 cents per share with decent upside volume flows. This relative strength in shares of CRDC is now starting to push this stock within range of triggering a near-term breakout trade above some key overhead resistance levels. That trade will trigger if CRDC manages to take out its 50-day moving average of 62 cents per share and then above more near-term resistance levels at 63 cents to 64 cents per share with high volume.

Traders should now look for long-biased trades in CRDC as long as it's trending above some key near-term support levels at 50 cents to 48 cents per share and then once it sustains a move or close above those breakout levels with volume that registers near or above 268,373 shares. If that breakout begins soon, then CRDC will set up to re-test or possibly take out its next major overhead resistance levels at 68 cents to 74 cents per share, or even 80 cents to 90 cents per share.

Vivus

Vivus  (VVUS), a biopharmaceutical company, develops and commercializes therapies to address unmet needs in obesity, sleep apnea, diabetes and sexual health in the U.S. and the European Union. This stock is trading up 2% to $2.73 in Tuesday's trading session.

Tuesday's Range: $2.62-$2.79
52-Week Range: $2.41-$6.28
Tuesday's Volume: 925,000
Three-Month Average Volume: 2.62 million

From a technical perspective, VVUS is spiking to the upside here and showing relative strength versus the overall market weakness right above some near-term support levels at $2.60 to $2.50 with lighter-than-average volume. This trend higher on Tuesday is now starting to push shares of VVUS within range of triggering a major breakout trade above some key near-term overhead resistance levels. That trade will hit if VVUS manages to clear its 50-day moving average of $2.79 and then once it takes out some more near-term overhead resistance at $3 with high volume.

Traders should now look for long-biased trades in VVUS as long as it's trending above some key near-term support levels at $2.60 to $2.50 or even above its new 52-week low of $2.41 and then once it sustains a move or close above those breakout levels with volume that hits near or above 2.62 million shares. If that breakout materializes soon, then VVUS will set up to re-test or possibly take out its next major overhead resistance levels at $3.40 to $3.50, or even $3.60 to $3.70.

Pacific Drilling

Pacific Drilling (PACD), together with its subsidiaries, operates as an offshore drilling contractor. This stock is trading up 2.8% to $3.59 in Tuesday's trading session.

Tuesday's Range: $3.43-$3.62
52-Week Range: $3.12-$10.95
Tuesday's Volume: 523,000
Three-Month Average Volume: 1.29 million

From a technical perspective, PACD is counter-trending to the upside here right above some near-term support at $3.25 with lighter-than-average volume. This spike to the upside on Tuesday is now starting to push shares of PACD within range of triggering a near-term breakout trade above some key overhead resistance levels. That trade will hit if PACD manages to take out its 50-day moving average of $3.74 and then above more key near-term overhead resistance at $3.76 with high volume.

Traders should now look for long-biased trades in PACD as long as it's trending above Tuesday's intraday low of $3.43 or above more near-term support at $3.25 and then once it sustains a move or close above those breakout levels with volume that registers near or above 1.29 million shares. If that breakout gets started soon, then PACD will set up to re-test or possibly take out its next major overhead resistance levels at $3.99 to $4.06 a share, or even $4.24 to $4.50.

This article is commentary by an independent contributor. At the time of publication, the author held TK positions in the stocks mentioned.

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