These 7 Stocks Under $10 Are Set to Soar Higher
Traders on the Exchange Floor-20

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.

Cara Therapeutics

  • Thursday's Range: $4.64-$5.00
  • 52-Week Range: $4.26-$23.61
  • Thursday's Volume: 666,000
  • Three-Month Average Volume: 488,746

Cara Therapeutics  (CARA) , a clinical-stage biopharmaceutical company, focuses on developing and commercializing chemical entities designed to alleviate pain by selectively targeting kappa opioid receptors. This stock closed up 4.4% to $4.96 in Thursday's trading session.

From a technical perspective, Cara Therapeutics spiked sharply higher on Thursday right above some near-term support at $4.51 a share with above-average volume. This stock recently formed a double bottom chart pattern, after shares found some buying interest at $4.51 to $4.54 a share. Following that potential bottom, shares of Cara Therapeutics have now started to spike higher and it's quickly moving within range of triggering a major breakout trade. That trade will trigger if this stock manages to clear some near-term overhead resistance levels at $5 to $5.60 a share and then above its 20-day moving average of $5.65 a share to more resistance at $5.95 a share with high volume.

Traders should now look for long-biased trades in Cara Therapeutics long as it's trending above those recent double bottom support levels or above its new 52-week low of $4.26 a share and then once it sustains a move or close above those breakout levels with volume that hits near or above 488,746 shares. If that breakout triggers soon, then this stock will set up to re-fill some of its previous gap-down-day zone from February that started at $7.21 a share.

Chimerix

  • Thursday's Range: $4.76-$5.13
  • 52-Week Range: $4.36-$58.04
  • Thursday's Volume: 1.45 million
  • Three-Month Average Volume: 4.08 million

Chimerix  (CMRX) , a biopharmaceutical company, discovers, develops and commercializes oral antivirals to address unmet medical needs in the U.S. This stock traded up 3.2% to $5.09 in Thursday's trading session.

From a technical perspective, Chimerix spiked notably higher on Thursday and managed to close just below its 20-day moving average of $5.18 a share with lighter-than-average volume. This stock has been uptrending a bit over the last month or so, with shares moving higher off its new 52-week low of $4.36 a share to its recent high of $5.72 a share. During that uptrend, this stock has been making mostly higher lows and higher highs, which is bullish technical price action. This decent spike to the upside on Thursday is now quickly pushing shares of Chimerix 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 near-term overhead resistance levels at its 20-day moving average of $5.18 a share to some more key resistance levels at $5.60 to $5.72 a share with high volume.

Traders should now look for long-biased trades in Chimerix s as long as it's trending above Thursday's intraday low of $4.76 a share or above its new 52-week low of $4.36 a share and then once it sustains a move or close above those breakout levels with volume that hits near or above 4.08 million shares. If that breakout takes hold soon, then this stock will set up to re-fill some of its previous gap-down-day zone February that started above $7.50 a share.

Opower

  • Thursday's Range: $6.07-$6.33
  • 52-Week Range: $5.30-$12.97
  • Thursday's Volume: 194,000
  • Three-Month Average Volume: 261,767

Opower  (OPWR)  provides cloud-based software to the utility industry in the U.S. This stock traded up 2.7% to $6.30 in Thursday's trading session.

From a technical perspective, Opower spiked notably higher on Thursday right above some near-term support at $6 a share with lighter-than-average volume. This trend to the upside is now quickly pushing shares of Opower 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 $6.48 to $6.63 a share and then above more key resistance levels at $6.92 a share to its 20-day moving average of $6.98 a share with high volume.

Traders should now look for long-biased trades in Opower as long as it's trending above some key near-term support at $6 a share and then once it sustains a move or close above those breakout levels with volume that hits near or above 261,767 shares. If that breakout fires off soon, then this stock will set up to re-fill some of its previous gap-down-day zone from February that started near $8.50 a share.

Ocular Therapeutix

  • Thursday's Range: $8.23-$8.87
  • 52-Week Range: $5.07-$44.19
  • Thursday's Volume: 136,000
  • Three-Month Average Volume: 343,634

Ocular Therapeutix  (OCUL) , a biopharmaceutical company, focuses on the development and commercialization of therapies for eye diseases and conditions using its proprietary hydrogel platform technology in the U.S. This stock traded up 5.2% to $8.79 in Thursday's trading session.

From a technical perspective, Ocular Therapeutix ripped sharply higher on Thursday right above some near-term support at $8 a share and back above its 20-day moving average of $8.46 a share with lighter-than-average volume. This stock recently formed a double bottom chart pattern, after shares found some buying interest at $7.53 to $7.79 a share. Following that potential bottom, shares of Ocular Therapeutix have now started to move higher and it's quickly trending within range of triggering a near-term breakout trade. That trade will trigger if this stock manages to take out Thursday's intraday high of $8.87 a share and then once it clear more key resistance at $9.25 a share with high volume.

Traders should now look for long-biased trades in Ocular Therapeutix as long as it's trending above some near-term support at $8 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 343,634 shares. If that breakout gets set off soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $10.19 to $10.40, or even $11.15 to $12 a share.

C&J Energy Services

  • Thursday's Range: $1.65-$1.88
  • 52-Week Range: $0.80-$18.45
  • Thursday's Volume: 3.29 million
  • Three-Month Average Volume: 2.92 million

C&J Energy Services  (CJES)  provides completion and production services for oil and gas industry primarily in North America. This stock traded up 14.4% to $1.82 in Thursday's trading session.

From a technical perspective, C&J Energy Services ripped sharply higher on Thursday right off its 20-day moving average of $1.60 a share with strong upside volume flows. This high-volume ramp to the upside is now quickly pushing shares of C&J Energy Services within range of triggering 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 $2 a share to its 50-day moving average of $2.12 a share with high volume.

Traders should now look for long-biased trades in C&J Energy Services as long as it's trending above its 20-day moving average of $1.60 a share or above more key near-term support at $1.40 a share and then once it sustains a move or close above those breakout levels with volume that hits near or above 2.92 million shares. If that breakout develops soon, then this stock will set up to re-test or possibly take out is next major overhead resistance levels at $2.45 to $2.91 a share.

Resolute Forest Products

  • Thursday's Range: $5.25-$5.54
  • 52-Week Range: $3.79-$18.45
  • Thursday's Volume: 286,000
  • Three-Month Average Volume: 401,136

Resolute Forest Products  (RFP)  operates in the forest products industry in the U.S., Canada and South Korea. This stock traded up 4.9% to $5.49 in Thursday's trading session.

From a technical perspective, Resolute Forest Products spiked sharply higher on Thursday right off its 50-day moving average of $5.29 a share with lighter-than-average volume. This stock has been uptrending tremendously strong over the last two months, with shares moving higher off its new 52-week low of $3.79 a share to its recent high of $5.57 a share. During that uptrend, shares of Resolute Forest Products have been consistently making higher lows and higher highs, which is bullish technical price action. That strong uptrend has now pushed this stock within range of triggering a big breakout trade. That trade will trigger if this stock manages to take out some near-term overhead resistance levels at $5.57 to around $6 a share with high volume.

Traders should now look for long-biased trades in Resolute Forest Products as long as it's trending above some key near-term support at $5 a share or above its 20-day moving average of $4.73 a share and then once it sustains a move or close above those breakout levels with volume that hits near or above 401,136 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 $6.50 to $7, or even $7.32 a share.

Imprimis Pharmaceuticals

  • Thursday's Range: $4.00-$4.18
  • 52-Week Range: $3.72-$8.79
  • Thursday's Volume: 48,000
  • Three-Month Average Volume: 33,157

Imprimis Pharmaceuticals  (IMMY) , a pharmaceutical company, focuses on developing and commercializing proprietary compounded drug therapies to physicians and patients in the U.S. This stock traded up 2.4% to $4.15 in Thursday's trading session.

From a technical perspective, Imprimis Pharmaceuticals spiked notably higher on Thursday right above some near-term support at $3.95 a share and back above its 20-day moving average of $4.11 a share with above-average volume. This stock has recently formed a double bottom chart pattern, after shares found some buying interest at $3.80 to $3.72 a share. Following that potential bottom, shares of Imprimis Pharmaceuticals have now started to spike higher and it's quickly moving within range of triggering a big breakout trade above some key near-term overhead resistance levels. That trade will trigger if this stock manages to take out some near-term overhead resistance levels at $4.26 to $4.43 a share with high volume.

Traders should now look for long-biased trades in Imprimis Pharmaceuticals as long as it's trending above those recent double bottom support levels and then once it sustains a move or close above those breakout levels with volume that registers near or above 33,157 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 $4.60 to $4.90, or even its 50-day moving average of $4.92 to $5.20 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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