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.

NovaBay Pharmaceutical

  • Thursday's Range: $2.26-$2.55
  • 52-Week Range: $1.75-$26.25
  • Thursday's Volume: 62,000
  • Three-Month Average Volume: 33,424

NovaBay Pharmaceutical  (NBY) , a biopharmaceutical company, develops and commercializes topical non-antibiotic antimicrobial products for the eye care market. This stock traded up 7.4% to $2.45 in Thursday's trading session.

From a technical perspective, NovaBay Pharmaceutical spiked sharply higher on Thursday and displayed some relative strength versus the overall market weakness with strong upside volume flows. This stock has been uptrending over the last few weeks, with shares moving higher from its low of $1.94 to its recent high of $2.78 a share. During that uptrend, shares of NovaBay Pharmaceuticals have been consistently making higher lows and higher highs, which is bullish technical price action. This high-volume spike to the upside is now quickly pushing this stock within range of triggering a major breakout trade above some key overhead resistance levels. That trade will trigger if this stock manages to take out some near-term overhead resistance levels at Thursday's intraday high of $2.55 to some more key resistance at $2.78 a share with high volume.

Traders should now look for long-biased trades in NovaBay Pharmaceutical as long as it's trending above Thursday's intraday low of $2.24 a share and then once it sustains a move or close above those breakout levels with volume that hits near or above 33,424 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 $3.25 to its 50-day moving average of $3.60, or even $3.85 a share.

Ritter Pharmaceuticals

  • Thursday's Range: $1.39-$1.67
  • 52-Week Range: $1.31-$5.50
  • Thursday's Volume: 80,000
  • Three-Month Average Volume: 62,264

Ritter Pharmaceuticals (RTTR)  develops therapeutic products for treatment of inflammatory, gastrointestinal, and metabolic diseases. This stock traded up 2% to $1.52 in Thursday's trading session.

From a technical perspective, Ritter Pharmaceuticals trended notably higher on Thursday right above its new 52-week low of $1.31 a share with above-average volume. This slight bump to the upside is now quickly pushing shares of Ritter Pharmaceuticals within range of triggering a near-term breakout trade above some key overhead resistance levels. That trade will trigger if this stock manages to take out some near-term overhead resistance levels at $1.75 to its 20-day moving average of $1.81 a share with high volume.

Traders should now look for long-biased trades in Ritter Pharmaceuticals as long as it's trending above its new 52-week low of $1.31 a share and then once it sustains a move or close above those breakout levels with volume that hits near or above 62,264 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 $2 to its 50-day moving average of $2.08, or even $2.17 to around $2.30 a share.

Catalyst Biosciences

  • Thursday's Range: $2.22-$3.28
  • 52-Week Range: $1.89-$21.60
  • Thursday's Volume: 39,000
  • Three-Month Average Volume: 47,741

Catalyst Biosciences  (CBIO) , a biopharmaceutical company, focuses on discovering and developing novel biopharmaceutical products based on engineered human proteases. This stock traded up 10.1% to $3.15 in Thursday's trading session.

From a technical perspective, Catalyst Biosciences ripped sharply higher on Thursday and counter-trended versus the overall market weakness with lighter-than-average volume. This spike pushed shares of Catalyst Biosciences back above both its 20-day moving average of $2.56 and its 50-day moving average of $2.99 a share. This stock is now quickly trending 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 Thursday's intraday high of $3.28 and then once it clears more key resistance at $3.40 a share with high volume.

Traders should now look for long-biased trades in Catalyst Biosciences as long as it's trending above $2.80 a share and then once it sustains a move or close above those breakout levels with volume that hits near or above 47,741 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 $4.57 to $4.82 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.

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