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.

OncoMed Pharmaceuticals

  • Tuesday's Range: $9.28-$10.02
  • 52-Week Range: $8.42-$29.83
  • Tuesday's Volume: 436,000
  • Three-Month Average Volume: 305,118

OncoMed Pharmaceuticals  (OMED) , a clinical development-stage biotechnology company, discovers and develops protein therapeutics targeting cancer stem cells. This stock traded up 4.6% to $9.97 in Tuesday's trading session.

From a technical perspective, OncoMed Pharmaceuticals spiked sharply higher on Tuesday back above its 20-day moving average of $9.45 a share with above-average volume. This high-volume rip to the upside is now quickly pushing this stock within range of triggering a big 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 around $10.10 to $10.35 a share and then above its gap-down-day high from January at $10.43 a share with high volume.

Traders should now look for long-biased trades in OncoMed Pharmaceuticals as long as it's trending above Tuesday's intraday low of $9.27 a share or above more near-term support at $8.91 a share and then once it sustains a move or close above those breakout levels with volume that hits near or above 305,118 shares. If that breakout takes hold soon, then this stock will set up to re-fill some of its previous gap-down-day zone that started at $17.87 a share.

Chimerix

  • Tuesday's Range: $4.48-$5.02
  • 52-Week Range: $4.36-$58.04
  • Tuesdays Volume: 3.55 million
  • Three-Month Average Volume: 3.75 million

Chimerix  (CMRX - Get Report) , a biopharmaceutical company, discovers, develops and commercializes oral antivirals to address unmet medical needs in the U.S. This stock traded up 7.3% to $4.95 in Tuesday's trading session.

From a technical perspective, Chimerix ripped sharply higher on Tuesday right above some near-term support at $4.41 and its new 52-week low of $4.36 a share with decent upside volume flows. This stock has been consolidating and trending sideways over the last few weeks, with shares moving between $4.36 on the downside and $5.21 on the upside. Shares of Chimerix are now starting to spike higher and quickly move within range of triggering a big breakout trade above the upper-end of its recent sideways trending chart pattern. That trade will trigger if this stock manages to take out Tuesday's intraday high of $5.02 a share and then once it clears more resistance at $5.21 a share with high volume.

Traders should now look for long-biased trades in Chimerix as long as it's trending above some key near-term support levels at $4.41 to $4.36 a share and then once it sustains a move or close above those breakout levels with volume that hits near or above 3.75 million shares. If that breakout hits 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 February at $5.61 a share. Any high-volume move above $5.61 will then give this stock a chance to re-fill some of its recent gap-down-day zone that started near $7.50 a share.

Aratana Therapeutics

  • Tuesday's Range: $3.15-$3.40
  • 52-Week Range: $2.56-$20.63
  • Tuesday's Volume: 313,000
  • Three-Month Average Volume: 596,510

Aratana Therapeutics  (PETX) , a development-stage biopharmaceutical company, focuses on the licensing, development, and commercialization of biopharmaceutical products for the companion animals worldwide. This stock traded up 2.1% to $3.34 in Tuesday's trading session.

From a technical perspective, Aratana Therapeutics spiked a bit higher on Tuesday right off its 20-day moving average of $3.18 a share with lighter-than-average volume. This stock has been consolidating and trending sideways over the last few weeks, with shares moving between $3.04 on the downside and $3.68 on the upside. Shares of Aratana Therapeutics are now starting to trend within range of triggering a big breakout trade above the upper-end of its recent sideways trending chart pattern. That trade will trigger if this stock manages to clear some key near-term overhead resistance levels at $3.50 to $3.68 a share and then once it takes out its 50-day moving average of $3.88 a share with high volume.

Traders should now look for long-biased trades in Aratana Therapeutics as long as it's trending above its recent low of $3.04 a share and then once it sustains a move or close above those breakout levels with volume that hits near or above 596,510 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 $4.19 to $4.50, or even $5 a share.

Karyopharm Therapeutics

  • Tuesday's Range: $5.90-$6.39
  • 52-Week Range: $4.83-$35.65
  • Tuesday's Volume: 225,000
  • Three-Month Average Volume: 326,916

Karyopharm Therapeutics  (KPTI - Get Report) , a clinical-stage pharmaceutical company, focuses on the discovery and development of drugs directed against nuclear transport targets for the treatment of cancer and other major diseases. This stock traded up 7.9% to $6.37 in Tuesday's trading session.

From a technical perspective, Karyopharm Therapeutics spiked sharply higher on Tuesday right off its 20-day moving average of $5.88 a share with lighter-than-average volume. This move to the upside managed to push this stock into breakout territory, since shares cleared some near-term overhead resistance at $6.36 a share. Shares of Karyopharm Therapeutics are now quickly trending within range of triggering a much bigger breakout trade. That trade will hit if this stock manages to take out some near-term overhead resistance levels at $6.70 to $6.78 a share and then above more key resistance at $7 a share with high volume.

Traders should now look for long-biased trades in Karyopharm Therapeutics as long as it's trending above its 20-day moving average of $5.88 a share and then once it sustains a move or close above those breakout levels with volume that hits near or above 326,916 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 $7.83 to its 50-day moving average of $8.30 a share.

Sorrento Therapeutics

  • Tuesday's Range: $6.03-$6.35
  • 52-Week Range: $4.25-$26.80
  • Tuesday's Volume: 268,000
  • Three-Month Average Volume: 467,589

Sorrento Therapeutics  (SRNE - Get Report) , a biopharmaceutical company, focuses on the discovery, acquisition, development and commercialization of proprietary drug therapeutics for addressing unmet medical needs in the U.S., Europe and internationally. This stock traded up 5.1% to $6.35 in Tuesday's trading session.

From a technical perspective, Sorrento Therapeutics ripped sharply higher on Tuesday right off some near-term support at around $6 a share with lighter-than-average volume. This stock has been consolidating and trending sideways over the last few weeks, with shares moving between around $5.50 on the downside and $6.49 on the upside. This jump to the upside on Tuesday is now quickly pushing shares of Sorrento Therapeutics within range of triggering a big breakout trade above the upper end of its recent sideways trending chart pattern. That trade will trigger if this stock manages to clear some near-term overhead resistance levels at $6.50 to its 50-day moving average of $6.55 a share with high volume.

Traders should now look for long-biased trades in Sorrento Therapeutics as long as it's trending above its 20-day moving average of $5.59 a share and then once it sustains a move or close above those breakout levels with volume that hits near or above 467,589 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 $7.17 to $7.50, or even $8 a share.

North Atlantic Drilling

  • Tuesday's Range: $1.73-$1.90
  • 52-Week Range: $1.36-$17.90
  • Tuesday's Volume: 180,000
  • Three-Month Average Volume: 141,754

North Atlantic Drilling  (NADL)  operates as an offshore drilling services contractor in the North Atlantic region. This stock traded up 5.7% to $1.84 in Tuesday's trading session.

From a technical perspective, North Atlantic Drilling spiked sharply higher on Tuesday right off its 20-day moving average of $1.72 a share with above-average volume. This stock recently formed a double bottom chart pattern, after shares found some buying interest at $1.59 to $1.60 a share. Following that potential bottom, shares of North Atlantic Drilling have now started to rip higher and quickly move within range of triggering a big breakout trade. That trade will trigger if this stock manages to take out Tuesday's intraday high of $1.90 a share and then above its 50-day moving average of $1.93 a share with high volume.

Traders should now look for long-biased trades in North Atlantic Drilling as long as it's trending above its 20-day moving average of $1.72 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 141,754 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 $2.30 to $2.38, or even $2.81 to $3 a share.

Verastem

  • Tuesday's Range: $1.05-$1.15
  • 52-Week Range: $1.05-$12.35
  • Tuesday's Volume: 478,000
  • Three-Month Average Volume: 410,666

Verastem  (VSTM - Get Report) , a biopharmaceutical company, focuses on discovering and developing proprietary small molecule drugs targeting cancer stem cells. This stock traded up 1.7% to $1.14 in Tuesday's trading session.

From a technical perspective, Verastem spiked modestly higher off its new 52-week low on Tuesday of $1.05 a share with above-average volume. This high-volume spike to the upside is now quickly pushing this stock within range of triggering a big breakout trade above some key near-term overhead resistance levels. That breakout will trigger if this stock manages to take out its 20-day moving average of $1.15 a share and then above more key resistance levels at $1.16 to around $1.20 a share with high volume.

Traders should now look for long-biased trades in Verastem as long as it's trending above its new 52-week low of $1.05 a share and then once it sustains a move or close above those breakout levels with volume that hits near or above 410,666 shares. If that breakout triggers soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $1.30 to $1.38, or even its 50-day moving average of $1.41 to around $1.50 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.