7 Stocks Under $10 to Trade for Big Post-Brexit Gains

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.

Stocks that are in favor and making large moves is a segment of the market that I tweet about on a regular basis.These are also the exact type of stocks that I love to trade and alert my subscribers to in real time.

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 were making large moves to the upside on Friday following the Brexit vote. Here's how to trade them now.

Catabasis Pharmaceuticals

  • Friday's Range: $3.53-$4.16
  • 52-Week Range: $3.53-$16.96
  • Friday's Volume: 302,000
  • Three-Month Average Volume: 34,842

Catabasis Pharmaceuticals  (CATB) , a biopharmaceutical company, focuses on the discovery, development and commercialization of therapeutics to treat inflammatory and metabolic diseases. This stock closed up 2% to $4.08 in Friday's trading session.

From a technical perspective, Catabasis Pharmaceuticals displayed relative strength on Friday versus the overall market weakness, after shares bounced hard off its new 52-week low of $3.53 a share with strong upside volume flows. This high-volume trend to the upside is now quickly pushing shares of Catabasis Pharmaceuticals 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 Friday's intraday high of $4.16 a share to some more key resistance at $4.30 a share with high volume.

Traders should now look for long-biased trades in Catabasis Pharmaceuticals as long as it's trending above its new 52-week low of $3.503 a share and then once it sustains a move or close above those breakout levels with volume that hits near or above 34,842 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 $4.75 to its 50-day moving average of $5.11 a share.

CytomX Therapeutics

  • Friday's Range: $9.10-$10.45
  • 52-Week Range: $9.01-$24.68
  • Friday's Volume: 1.47 million
  • Three-Month Average Volume: 99,403

CytomX Therapeutics  (CTMX)  operates as an oncology-focused biopharmaceutical company in the U.S. This stock traded up 1.9% to $9.83 in Friday's trading session.

From a technical perspective, CytomX Therapeutics counter-trended slightly higher on Friday versus the overall market weakness, after shares spiked higher off some near-term support at $9.10 a share with strong upside volume flows. This bump to the upside briefly pushed this stock back above its 20-day moving average of $10.08 a share, before it closed just below that level at $9.83 a share. This move is now quickly pushing shares of CytomX Therapeutics within range of triggering a big 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 $10.45 to $10.50 a share with high volume.

Traders should now look for long-biased trades in CytomX Therapeutics as long as it's trending above some near-term support at $9.10 a share and then once it sustains a move or close above those breakout levels with volume that hits near or above 99,403 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 $11.11 to its 50-day moving average of $11.14 a share, or even $12 to $12.50 a share.

Proteon Therapeutics

  • Friday's Range: $5.25-$6.13
  • 52-Week Range: $4.90-$20.00
  • Friday's Volume: 821,000
  • Three-Month Average Volume: 46,263

Proteon Therapeutics  (PRTO) , a late-stage biopharmaceutical company, focuses on the development of pharmaceuticals to address the needs of patients with renal and vascular diseases. This stock traded up 12.1% to $6.00 in Friday's trading session.

From a technical perspective, Proteon Therapeutics ripped sharply higher on Friday back above its 20-day moving average of $5.65 a share with strong upside volume flows. This strong display of relative strength versus the overall market weakness now is quickly pushing shares of Proteon Therapeutics 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 Friday's intraday high of $6.13 a share and then once it clears more near-term resistance at $6.20 a share with high volume.

Traders should now look for long-biased trades in Proteon Therapeutics as long as it's trending above its 20-day moving average of $5.65 a share or above Friday's intraday low of $5.25 a share and then once it sustains a move or close above those breakout levels with volume that hits near or above 46,263 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 $7 to its 50-day moving average of $7.31 a share, or even $8 a share.

Platinum Group Metals

  • Friday's Range: $2.91-$3.14
  • 52-Week Range: $1.00-$4.40
  • Friday's Volume: 1.44 million
  • Three-Month Average Volume: 386,727

Platinum Group Metals  (PLG)  operates as a platinum-focused exploration and development company in the Republic of South Africa and Canada. This stock traded up 6.2% to $3.06 in Friday's trading session.

From a technical perspective, Platinum Group Metals ripped sharply higher on Friday right off its 20-day moving average of $2.92 a share and back above its 50-day moving average of $3.06 a share with strong upside volume flows. This rip to the upside is coming after shares of Platinum Group Metals recently formed a triple bottom chart pattern at $2.77, $2.65 and $2.73 a share. Market players should now look for a continuation move to the upside in the short-term if this stock manages to clear Friday's intraday high of $3.14 a share with strong volume.

Traders should now look for long-biased trades in Platinum Group Metals as long as it's trending above its 20-day moving average of $2.92 a share or above those recent triple bottom support levels and then once it sustains a move or close above Friday's intraday high of $3.14 a share with volume that hits near or above 386,727 shares. If this move gets underway soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $3.60 to $3.71, or even $3.85 to $4.04 a share.

Genesis Healthcare

  • Friday's Range: $1.61-$1.81
  • 52-Week Range: $1.38-$8.06
  • Friday's Volume: 629,000
  • Three-Month Average Volume: 230,567

Genesis Healthcare  (GEN) , together with its subsidiaries, owns and operates skilled nursing facilities and assisted/senior living facilities in the U.S. This stock traded up 4.6% to $1.80 in Friday's trading session.

From a technical perspective, Genesis Healthcare displayed relative strength on Friday versus the big market selloff, after shares spiked back above its 20-day moving average of $1.69 a share with strong upside volume flows. This high-volume jump to the upside is now quickly pushing shares of Genesis Healthcare 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 Friday's intraday high of $1.81 a share and then once it clears more near-term resistance levels at $1.85 to $1.90 a share with high volume.

Traders should now look for long-biased trades in Genesis Healthcare as long as it's trending above some near-term support around $1.60 a share and then once it sustains a move or close above those breakout levels with volume that hits near or above 230,567 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 $1.97 to its 50-day moving average of $2.02 a share, or even $2.20 to $2.40 a share.

Nivalis Therapeutics

  • Friday's Range: $4.06-$4.45
  • 52-Week Range: $3.68-$20.43
  • Friday's Volume: 432,000
  • Three-Month Average Volume: 52,742

Nivalis Therapeutics  (NVLS) , a clinical stage pharmaceutical company, focuses on the discovery, development and commercialization of product candidates for patients with cystic fibrosis. This stock traded up 2.1% to $4.36 in Friday's trading session.

From a technical perspective, Nivalis Therapeutics counter-trended higher on Friday versus the extreme market weakness with strong upside volume flows. This stock recently formed a double bottom chart pattern over the last four months, after shares found some buying interest at $3.68 to $3.79 a share. Following that potential bottom, shares of Nivalis Therapeutics have now started to uptrend a bit, and the stock is beginning to move within range of triggering a near-term breakout trade. That trade will trigger if this stock manages to take out its 20-day moving average of $4.47 a share and then once it clears more near-term resistance levels at $4.75 to $4.85 a share with high volume.

Traders should now look for long-biased trades in Nivalis Therapeutics as long as it's trending above some near-term support at $4 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 52,742 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 $5.25 to$5.66, or even $6 to $6.25 a share.

Infinity Pharmaceuticals

  • Friday's Range: $1.24-$1.34
  • 52-Week Range: $1.24-$11.13
  • Friday's Volume: 2.12 million
  • Three-Month Average Volume: 1.14 million

Infinity Pharmaceuticals  (INFI) , a drug discovery and development company, discovers, develops and delivers medicines to patients with difficult-to-treat diseases. This stock traded up 1.5% to $1.32 in Friday's trading session.

From a technical perspective, Infinity Pharmaceuticals trended modestly higher on Friday right off its new 52-week low of $1.24 a share with strong upside volume flows. This stock recently gapped-down sharply lower from around $5 a share to under $1.50 a share with monster downside volume flows. Following that move, shares of Infinity Pharmaceuticals went on to print a new 52-week low of $1.24 a share. That said, this stock has now started to spike to the upside off that $1.24 low, and it's quickly trending 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 $1.37 to around $1.45 a share with high volume.

Traders should now look for long-biased trades in Infinity Pharmaceuticals as long as it's trending above its new 52-week low of $1.24 a share and then once it sustains a move or close above those breakout levels with volume that registers near or above 1.14 million 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 $1.62 to $1.91 a share. Any high-volume move above $1.91 a share will then give this stock a chance to re-fill some of its previous gap-down-day zone from earlier this month that started near $5 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.

More from Opinion

Tuesday Turnaround: Google Gets Grilled

Tuesday Turnaround: Google Gets Grilled

Why Tech Giants Like Amazon Are Designing Their Own Chips -- And Who Benefits

Why Tech Giants Like Amazon Are Designing Their Own Chips -- And Who Benefits

China's Ban on Apple's Older iPhones Is Deeply Ironic -- and Unsettling

China's Ban on Apple's Older iPhones Is Deeply Ironic -- and Unsettling

Qualcomm's Latest Notebook Chip Could Be a Sign of Things to Come from Apple

Qualcomm's Latest Notebook Chip Could Be a Sign of Things to Come from Apple

Broadcom Gains on Solid Results and Guidance: 5 Key Takeaways

Broadcom Gains on Solid Results and Guidance: 5 Key Takeaways