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.

Pacific Drilling

  • Thursday's Range: $1.48-$1.65
  • 52-Week Range: $1.14-$7.51
  • Thursday's Volume: 1.30 million
  • Three-Month Average Volume: 819,772

Pacific Drilling  (PACD - Get Report) , together with its subsidiaries, operates as an offshore drilling contractor. This stock traded up 9% to $1.56 in Thursday's trading session.

From a technical perspective, Pacific Drilling ripped sharply higher on Thursday back above its 20-day moving average of $1.53 a share and briefly above its 50-day moving average of $1.58 a share with strong upside volume flows. This high-volume move to the upside is now quickly pushing shares of Pacific Drilling within range of triggering a major breakout trade above some key near-term overhead resistance levels. That trade will trigger if this stock manages to take out some near-term overhead resistance levels at $1.68 to $1.76 a share and then above more resistance levels at $1.89 to $2.01 a share with high volume.

Traders should now look for long-biased trades in Pacific Drilling as long as it's trending above Thursday's intraday low of $1.48 and then once it sustains a move or close above those breakout levels with volume that hits near or above 819,772 shares. If that breakout kicks off soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $2.40 to $2.80 a share.

Penn West Petroleum

  • Thursday's Range: $1.15-$1.23
  • 52-Week Range: $0.45-$4.73
  • Thursday's Volume: 4.89 million
  • Three-Month Average Volume: 3.91 million

Penn West Petroleum  (PWE)  explores for, develops and produces oil and natural gas properties in western Canada. This stock traded up 2.5% t $1.19 in Thursday's trading session.

From a technical perspective, Penn West Petroleum spiked notably higher here right above its 20-day moving average of $1.09 a share with strong upside volume flows. This spike to the upside on Thursday briefly pushed shares of Penn West Petroleum into breakout territory, since this stock flirted with some near-term overhead resistance levels at $1.17 to $1.22 a share. This high-volume move to the upside is now quickly pushing shares of Penn West Petroleum within range of triggering another big breakout trade. That trade will trigger if this stock manages to take out some key near-term overhead resistance levels $1.23 to around $1.30 a share and then above more resistance at $1.40 a share with high volume.

Traders should now look for long-biased trades in Penn West Petroleum as long as it's trending above its 20-day moving average of $1.09 or above more key near-term support at $1.04 and then once it sustains a move or close above those breakout levels with volume that hits near or above 3.91 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 its 200-day moving average of $1.52 to $1.64, or even $1.85 to $2 a share.

Crestwood Equity Partners

  • Thursday's Range: $2.68-2.93
  • 52-Week Range: $2.17-$9.60
  • Thursday's Volume: 2.78 million
  • Three-Month Average Volume: 2.07 million

Crestwood Equity Partners  (CEQP - Get Report)  provides midstream solutions to customers in the crude oil, natural gas liquids and natural gas sectors of the energy industry in the U.S. This stock traded up 6.6% to $2.89 in Thursday's trading session.

From a technical perspective, Crestwood Equity Partners ripped sharply higher on Thursday right off its 50-day moving average of $2.67 and back above its 20-day moving average of $2.74 with above-average volume. This high-volume trend to the upside is now quickly pushing shares of Crestwood Equity Partners within range of triggering a major breakout trade above some key near-term overhead resistance levels. That breakout will trigger if this stock manages to take out some near-term overhead resistance levels at $2.93 to $2.97 a share and then above more resistance at $2.98 a share with high volume.

Traders should now look for long-biased trades in Crestwood Equity Partners as long as it's trending above its 50-day moving average of $2.67 or above more key near-term support at $2.44 a share and then once it sustains a move or close above those breakout levels with volume that registers near or above 2.07 million shares. If that breakout takes hold soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $3.50 to $3.75, or even $4 to $4.28 a share.


Affimed

  • Thursday's Range: $5.86-$6.68
  • 52-Week Range: $4.05-$24.20
  • Thursday's Volume: 1.10 million
  • Three-Month Average Volume: 285,183

Affimed  (AFMD - Get Report) , a clinical-stage biopharmaceutical company, focuses on discovering and developing cancer immunotherapies. This stock traded up 6.4% $6.45 in Thursday's trading session.

From a technical perspective, Affimed ripped sharply higher on Thursday right above some key near-term support at $5.80 a share with strong upside volume flows. This stock has been downtrending badly over the last four months, with share sliding sharply lower off its high of $24.20 to its recent low of $5.80 a share. During that downtrend, shares of Affimed have been consistently making lower highs and lower lows, which is bearish technical price action. That said, this stock has now started to rebound sharply off that $5.80 low with monster volume and it's now quickly trending within range of triggering a near-term breakout trade. That trade will trigger if this stock manages to take out its 20-day moving average of $6.80 to more resistance around $7 a share with high volume.

Traders should now look for long-biased trades in Affimed as long as it's trending above that recent low of $5.80 and then once it sustains a move or close above those breakout levels with volume that hits near or above 285,183 shares. If that breakout materializes soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $7.29 to $7.76, or even its 50-day moving average of $7.90 to $8.42 a share. Any high-volume move above $8.42 will then give this stock a chance to make a run at its 200-day moving average of $9.29 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.