4 Stocks Under $10 Making Big Up Moves on Big Volume

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.

Endologix

  • Tuesday's Range: $8.51-$9.441`
  • 52-Week Range: $8.39-$18.07
  • Tuesday's Volume: 2.34 million
  • Three-Month Average Volume: 1.15 million

Endologix  (ELGX)  develops, manufactures, markets and sells medical devices for the treatment of abdominal aortic aneurysms in the U.S. and internationally. This stock traded up 2.8% to $9.28 in Tuesday's trading session.

From a technical perspective, Endologix trended notably higher here right above its new 52-week low of $8.39 a share with strong upside volume flows. This stock recently gapped down sharply lower from around $14 a share to under $9 a share with heavy downside volume flows. Following that move, shares of Endologix have now started to rebound sharply higher off that $8.39 low with a number of strong upside volume days. Market players should now look for a continuation move to the upside in the short-term if this stock manages to take out Tuesday's intraday high of $9.44 a share with strong volume.

Traders should now look for long-biased trades in Endologix as long as it's trending above Tuesday's intraday of $8.71 or above its new 52-week low of $8.39 and then once it sustains a move or close above $9.44 with volume that hits near or above 1.15 million shares. If that move gets underway soon, then this stock will set up to re-test or possibly take out its next major overhead resistance level at its gap-down-day high of $11 a share. Any high-volume move above $11 a share will then give this stock a chance to re-fill some of its gap-down-day zone that started near $14 a share.

Verastem

  • Tuesday's Range: $1.83-$2.13
  • 52-Week Range: $1.50-$12.35
  • Tuesday's Volume: 1.01 million
  • Three-Month Average Volume: 966,237

Verastem  (VSTM) , a biopharmaceutical company, focuses on discovering and developing proprietary small molecule drugs targeting cancer stem cells. This stock traded up 6.6% to $2.10 in Tuesday's trading session.

From a technical perspective, Verastem ripped sharply higher on Tuesday right off its 20-day moving average of $1.96 with above-average volume. This strong spike to the upside is now quickly pushing shares of Verastem 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 key near-term overhead resistance at $2.27 a share with high volume.

Traders should now look for long-biased trades in Verastem as long as it's trending above its 20-day moving average of $1.96 or above more near-term support at $1.80 a share and then once it sustains a move or close above $2.27 a share with volume that hits near or above 966,237 shares. If that breakout triggers soon, then this stock will set up to re-test or possibly take out its next major overhead resistance level at its gap-down-day high from September at $2.74 a share. Any high-volume move above $2.74 will then give this stock a chance to re-fill some of its previous gap-down-day zone that started near $6 a share.

ARCA Biopharma

  • Tuesday's Range: $5.16-$5.49
  • 52-Week Range: $4.55-$10.85
  • Tuesday's Volume: 52,000
  • Three-Month Average Volume: 34,223

ARCA Biopharma  (ABIO) , a biopharmaceutical company, focuses on developing genetically targeted therapies for cardiovascular diseases. This stock traded up 3% to $5.41 in Tuesday's trading session.

From a technical perspective, ARCA Biopharma jumped notably higher here right off its 20-day moving average of $5.14 with above-average volume. This stock recently formed a double bottom chat pattern, after buyers stepped in at $4.75 to $4.81 a share. Following that potential bottom, shares of ARCA Biopharma have started to uptrend and it's now quickly approaching a big 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 $5.50 to $5.60 a share and then above its 50-day moving average of $5.66 a share with high volume.

Traders should now look for long-biased trades in ARCA Biopharma as long as it's trending above its 20-day moving average of $5.14 or around more support at $5 a share and then once it sustains a move or close above those breakout levels with volume that hits near or above 34,223 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 its 200-day moving average of $6.08 to $6.50, or even $7 a share.

Rexahn Pharmaceuticals

  • Tuesday's Range: $0.45-$0.49
  • 52-Week Range: $0.41-$0.96
  • Tuesday's Volume: 703,000
  • Three-Month Average Volume: 338,531

Rexahn Pharmaceuticals  (RNN) , a clinical stage biopharmaceutical company, discovers, develops, and commercializes treatments for cancer and other medical needs. This stock traded up 8.3% to 49 cents per share in Tuesday's trading session.

From a technical perspective, Rexahn Pharmaceuticals ripped sharply higher on Tuesday back above its 20-day moving average of 46 cents per share with strong upside volume flows. This high-volume move to the upside on Tuesday is now quickly pushing shares of Rexahn Pharmaceuticals 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 50 cents to its 50-day moving average of 51 cents per share and then above more key resistance levels at 52 to 54 cents per share with high volume.

Traders should now look for long-biased trades in Rexahn Pharmaceuticals a as long as it's trending above some key near-term support at 45 cents per share and then once it sustains a move or close above those breakout levels with volume that hits near or above 338,531 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 60 cents to its 200-day moving average of 64 cents per share.

Disclosure: 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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