DELAFIELD, Wis. (Stockpickr) -- As part of your daily routine as an active trader or investor, it's important to track 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 who want to capture some of that massive volatility. Stocks that are making big-percentage moves 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.

Penn West Petroleum

  • Thursday's Range: $0.48-$0.52
  • 52-Week Range: $0.45-$6.43
  • Thursday's Volume: 4.21 million
  • Three-Month Average Volume: 2.84 million

Penn West Petroleum  (PWE) , explores for, develops, and produces oil and natural gas properties in western Canada. This stock is trading up 10.6% to 50 cents per share in Thursday's trading session.

From a technical perspective, Penn West Petroleum is spiking sharply higher here with very strong upside volume flows. This stock has been downtrending badly over the last six months, with shares falling sharply from over $2.40 to its new 52-week low of 44 cents per share. During that downtrend, shares of Penn West Petroleum have been consistently making lower highs and lower lows, which is bearish technical price action. That said, this stock is now starting to ramp higher off that 44 cents low and it's now quickly moving within range of triggering a big breakout trade. That trade will trigger if this stock manages to take out some near-term overhead resistance levels at 51 cents to its 20-day moving average of 52 cents per share and then once it clears more resistance at 56 cents per share with high volume.

Traders should now look for long-biased trades in Penn West Petroleum as long as it's trending above Thursday's low of 48 cents per share or above that new 52-week low of 44 cents per share and then once it sustains a move or close above those breakout levels with volume that hits near or above 2.84 million shares. If that breakout hits soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at 69 cents to its 50-day moving average of 79 cents per share.

Exco Resources

  • Thursday's Range: $0.75-$0.86
  • 52-Week Range: $0.48-$3.80
  • Thursday's Volume: 803,000
  • Three-Month Average Volume: 2.75 million

Exco Resources  (XCO) , an independent oil and natural gas company, engages in the acquisition, exploration, exploitation, development and production of onshore oil and natural gas properties with a focus on shale resource plays in the U.S. This stock is trading up 12.4% to 84 cents per share in Thursday's trading session.

From a technical perspective, Exco Resources is spiking sharply higher here right above its 50-day moving average of 71 cents per share and back above its 20-day moving average of 82 cents per share with lighter-than-average volume. This strong spike to the upside on Thursday is now quickly pushing this stock within range of triggering a major breakout trade above some key overhead resistance levels. That breakout will trigger if this stock manages to take out some key near-term overhead resistance levels at 90 cents to $1 a share and then above more resistance at $1.04 a share with high volume.

Traders should now look for long-biased trades in Exco Resources as long as it's trending above its 50-day moving average of 71 cents per share and then once it sustains a move or close above those breakout levels with volume that hits near or above 2.75 million shares. If that breakout fires off soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $1.20 to $1.40, or even its 200-day moving average of $1.52 a share.

SFX Entertainment

  • Thursday's Range: $0.52-$0.58
  • 52-Week Range: $0.40-$5.69
  • Thursday's Volume: 323,000
  • Three-Month Average Volume: 1.19 million

SFX Entertainment  (SFXE) engages in the production of live events and digital entertainment content that focuses on the electronic music culture and other festivals. This stock is trading up 6.9% to 54 cents per share in Thursday's trading session.

From a technical perspective, SFX Entertainment is ripping higher here right above its 20-day moving average of 48 cents per share with lighter-than-average volume. This stock recently broke out above some near-term overhead resistance at 46 cents per share with decent upside volume flows. This spike to the upside on Thursday is now starting to push shares of SFX Entertainment within range of triggering a major breakout trade above some key near-term overhead resistance. That trade will trigger if this stock manages to take out Thursday's intraday high of 59 cents and then once it clears some big resistance at around 75 cents per share with high volume.

Traders should now look for long-biased trades in SFX Entertainment as long as it's trending above its 20-day moving average of 48 cents or above more near-term support at 46 cents per share and then once it sustains a move or close above those breakout levels with volume that registers near or above 1.19 million shares. If that breakout develops soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at around $1 to $1.05 a share.

Evolving Systems

  • Thursday's Range: $6.00-$6.29
  • 52-Week Range: $5.28-$11.39
  • Thursday's Volume: 37,000
  • Three-Month Average Volume: 32,942


Evolving Systems
  (EVOL) provides software solutions and services to the wireless, wireline and cable markets in the U.K., Nigeria, Mexico and internationally. This stock is trading up 1.7% to $6.10 in Thursday's trading session.

From a technical perspective, Evolving Systems is spiking higher here right above its 20-day moving average of $5.75 with above-average volume. This stock has been uptrending over the last few weeks, with shares moving higher from its low of $5.28 to its recent high of $6.45 a share. During that uptrend, this stock has been making mostly higher lows and higher highs, which is bullish technical price action. Shares of Evolving Systems are now quickly moving within range of triggering a near-term breakout trade. That trade will trigger if this stock manages to clear some near-term overhead resistance levels at its 50-day moving average of $6.39 to $6.75 a share with high volume.

Traders should now look for long-biased trades in Evolving Systems as long as it's trending above its 20-day moving average of $5.75 and then once it sustains a move or close above those breakout levels with volume that hits near or above 32,942 shares. If that breakout fires off soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $8 to its 200-day moving average of $8.13 a share.

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