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.

Zafgen

  • Tuesday's Range: $5.51-$6.71
  • 52-Week Range: $5.34-$55.36
  • Tuesday's Volume: 1.20 million
  • Three-Month Average Volume: 1.45 million

Zafgen  (ZFGN) , a biopharmaceutical company, focuses on the development of therapeutics for patients suffering from obesity and obesity-related disorders. This stock traded up 20.3% to $6.69 in Tuesday's trading session.

From a technical perspective, Zafgen exploded higher right above its new 52-week low of $5.34 with decent upside volume flows. This move pushed this stock back above its 20-day moving average of $6.48 a share, and it's now quickly pushing shares of Zafgen within range of triggering a major breakout trade. That trade will trigger if this stock manages to take out some key near-term overhead resistance levels at $6.90 to $7.13 a share and then above more key resistance at $7.60 a share with high volume.

Traders should now look for long-biased trades in Zafgen as long as it's trending above $6 a share and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.45 million shares. If that breakout hits soon, then this stock will set up to re-fill some of its previous gap-down-day zone from December that started near $18 a share.

Merrimack Pharmaceuticals

  • Tuesday's Range: $5.97-$6.60
  • 52-Week Range: $5.79-$13.84
  • Tuesday's Volume: 2.27 million
  • Three-Month Average Volume: 1.39 million

Merrimack Pharmaceuticals  (MACK) , a biopharmaceutical company, engages in discovering, developing and preparing to commercialize medicines paired with companion diagnostics for the treatment of cancer primarily in the U.S. This stock traded up 11.8% to $6.51 in Tuesday's trading session.

From a technical perspective, Merrimack Pharmaceuticals ripped sharply higher on Tuesday right above its new 52-week low of $5.79 a share with strong upside volume flows. This stock has been downtrending badly for the last two months and change, with shares moving sharply lower from its high of around $11 to that new low of $5.79 a share. During that downtrend, shares of Merrimack Pharmaceuticals have been making mostly lower highs and lower lows, which is bearish technical price action. That said, this stock has now started to rip higher off that low and it's setting up for a continuation move to the upside. Traders should now look for long-based trades if this stock manages to take out Tuesday's intraday high of $6.60 a share and then above more key resistance at around $7 a share with high volume.

Traders should now look for long-biased trades in Merrimack Pharmaceuticals as long as it's trending above Tuesday's intraday low of $5.97 or above its new 52-week low of $5.79 a share and then once it sustains a move or close above $6.60 to $7 a share with volume that hits near or above 1.39 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 levels at its 20-day moving average of $7.60 to $8, or even its 50-day moving average of $8.44 a share.

CTI BioPharma

  • Tuesday's Range: $1.18-$1.29
  • 52-Week Range: $0.80-$2.94
  • Tuesday's Volume: 3.34 million
  • Three-Month Average Volume: 1.65 million

CTI BioPharma  (CTIC - Get Report) , a biopharmaceutical company, engages in the acquisition, development and commercialization of novel targeted therapies for blood-related cancers in the U.S. and internationally. This stock traded up 7.5% to $1.28 in Tuesday's trading session.

From a technical perspective, CTI BioPharma spiked sharply higher on Tuesday back above both its 50-day moving average of $1.21 a share and its 20-day moving average of $1.22 a share with strong upside volume flows. This high-volume trend to the upside is now quickly pushing shares of CTI BioPharma within range of triggering a near-term breakout trade above some key overhead resistance levels. That breakout will trigger if this stock manages to take out some near-term overhead resistance levels at $1.32 to $1.34 a share with high volume.

Traders should now look for long-biased trades in CTI BioPharma as long as it's trending above some near-term support levels at $1.20 or at $1.15 a share and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.65 million shares. If that breakout fires soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $1.42 to $1.50 a share. Any high-volume move above $1.50 will then give this stock a chance to re-fill some of its previous gap-down-day zone from October that started at $1.70 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.