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.

Axcelis Technologies

  • Thursday's Range: $2.41-$2.64
  • 52-Week Range: $2.21-$3.50
  • Thursday's Volume: 979,000
  • Three-Month Average Volume: 650,297

Axcelis Technologies  (ACLS - Get Report)  designs, manufactures and services ion implantation and other processing equipment used in the fabrication of semiconductor chips worldwide. This stock traded up 7.4% to $2.61 in Thursday's trading session.

From a technical perspective, Axcelis Technologies spiked sharply higher on Thursday back above both its 50-day moving average of $2.55 a share and its 20-day moving average of $2.56 a share with strong upside volume flows. This stock recently formed a double bottom chart pattern, after shares found some buying interest at $2.26 to $2.29 a share. Following that bottom, shares of Axcelis Technologies have started to rip higher with volume, and it's now quickly moving 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 key overhead resistance levels at $2.70 to $2.76 a share with high volume.

Traders should now look for long-biased trades in Axcelis Technologies as long as it's trending above some near-term support at $2.40 a share or above those recent double bottom support levels and then once it sustains a move or close above those breakout levels with volume that hits near or above 650,297 shares. If that breakout develops soon, then this stock will set up to re-fill some of its previous gap-down-day zone from November that started at $3.10 a share.

Seadrill Partners

  • Thursday's Range: $2.43-$2.91
  • 52-Week Range: $2.43-$17.00
  • Thursday's Volume: 1.18 million
  • Three-Month Average Volume: 938,216

Seadrill Partners  (SDLP - Get Report)  owns, operates and acquires offshore drilling units. This stock traded up 6.6% to $2.87 in Thursday's trading session.

From a technical perspective, Seadrill Partners spiked sharply higher on Thursday with strong upside volume flows. This stock has been downtrending badly over the last two months and change, with shares collapsing off its high of $11.82 to its new 52-week low of $2.43 a share. During that downtrend, shares of Seadrill Partners have been making mostly lower highs and lower lows, which is bearish technical price action. That said, this stock has just started to rebound sharply higher off that $2.43 with volume, and it's now quickly trending within range of triggering a near-term breakout trade above some key overhead resistance levels. That trade will trigger if this stock manages to clear some near-term overhead resistance levels at $3 to $3.10 a share and then above more resistance at $3.22 to its 20-day moving average of $3.37 a share with high volume.

Traders should now look for long-biased trades in Seadrill Partners as long as it's trending above its new 52-week low of $2.43 a share and then once it sustains a move or close above those breakout levels with volume that hits near or above 938,216 shares. If that breakout kicks off soon, then this stock will set up to re-test or possibly take out is next major overhead resistance levels at $3.75 to $4.03 a share.

Patriot National

  • Thursday's Range: $5.74-$6.47
  • 52-Week Range: $5.16-$19.32
  • Thursday's Volume: 984,000
  • Three-Month Average Volume: 344,325

Patriot National  (PN) , together with its subsidiaries, provides various outsourcing solutions within the workers compensation marketplace for insurance companies, employers, local governments and reinsurance captives in the U.S. This stock traded up 3.3% to $6.15 in Thursday's trading session.

From a technical perspective, Patriot National trended notably higher on Thursday with strong upside volume flows. This stock has been downtrending badly over the last month and change, with shares collapsing lower off its high of $15.04 a share to its new 52-week low of $5.16 a share. During that downtrending, shares of Patriot National 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 $5.16 low with strong upside volume flows. This high-volume jump 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 shares of Patriot National manages to clear some near-term overhead resistance levels at its 20-day moving average of $6.46 a share and then above more key resistance at just above $7 a share with high volume.

Traders should now look for long-biased trades in Patriot National as long as it's trending above Thursday's intraday low of $5.74 a share and then once it sustains a move or close above those breakout levels with volume that hits near or above 344,325 shares. If that breakout gets underway soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at around $8 a share or even its recent high of $9.07 a share.

Discovery Laboratories

  • Thursday's Range: $0.17-$0.20
  • 52-Week Range: $0.17-$1.82
  • Thursday's Volume: 931,000
  • Three-Month Average Volume: 996,024

Discovery Laboratories  (DSCO) , a specialty biotechnology company, focuses on developing products for critical-care patients with respiratory disease and improving care in pulmonary medicine. This stock traded up 7.9% to 19 cents per share in Thursday's trading session.

From a technical perspective, Discovery Laboratories ripped sharply higher on Thursday right above its recent low of around 17 cents per share with decent upside volume flows. This stock has been downtrending badly over the last six months, with shares falling sharply from around 60 cents per share to its recent low of around 17 cents per share. During that downtrend, shares of Discovery Laboratories have been making mostly lower highs and lower lows, which is bearish technical price action. That said, this stock is now starting to spike higher and quickly move within range of triggering a big breakout trade above some key near-term overhead resistance levels. That trade will trigger if shares of Discovery Laboratories manages to clear some near-term overhead resistance levels at 20 cents per share to its 20-day moving average of 21 cents per share and then above more key resistance at 22 cents per share with high volume.

Traders should now look for long-biased trades in Discover Laboratories as long as it's trending above some key near-term support at around 17 cents per share and then once it sustains a move or close above those breakout levels with volume that registers near or above 966,024 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 25 cents to 26 cents per share, or even 30 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.