Stock Quotes in this Article: ELX, IO, PXLW

DELAFIELD, Wis. (Stockpickr) -- At Stockpickr, we track daily portfolios of stocks that are the biggest percentage gainers and the biggest percentage losers.

>>5 Big Stocks to Trade for Gains

Stocks that are making large moves like these are favorites among short-term traders because they can jump into these names and try to capture some of that massive volatility. Stocks that are making big-percentage moves either up or down 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 technical indicators with fundamental trends, discipline and sound money management, you will be well on your way to investment success.

>>5 Stocks With Big Insider Buying

With that in mind, let's take a closer look at a several stocks under $10 that are making large moves to the upside today.

ION Geophysical

ION Geophysical (IO) is a technology-focused seismic solutions company that provides advanced seismic data acquisition equipment, seismic software and seismic planning, processing and interpretation services to the global energy industry. This stock closed up 3.7% to $6.38 in Thursday's trading session.

Thursday's Range: $6.25-$6.43

52-Week Range: $5.52-$7.87

Thursday's Volume: 1.38 million

Three-Month Average Volume: 945,989

>>2 Tech Stocks Spiking on Big Volume

From a technical perspective, IO gapped higher here back above its 50-day moving average at $6.14 with above-average volume. This stock has been trending sideways for the last four months, with shares moving between $6.90 on the upside and $5.55 on the downside. This move today is now starting to push shares of IO within range of triggering a breakout trade above the upper-end of its recent sideways trading chart pattern. That trade will hit if IO manages to take out some key overhead resistance levels at $6.45 to $6.70 and then once it clears more resistance at $6.90 with high volume.

Traders should now look for long-biased trades in IO as long as it's trending above its 50-day at $6.14 or above more support at $5.95 and then once it sustains a move or close above those breakout levels with volume that hits near or above 945,989 shares. If that breakout hits soon, then IO will set up to re-test or possibly take out its next major overhead resistance levels at $7.25 to $7.70. Any high-volume move above those levels will then put its next major overhead resistance levels at $8 to $8.79 into range for shares of IO.

Emulex

Emulex (ELX) is a provider of a range of network convergence solutions that intelligently connect servers, storage and networks within the data center. This stock closed up 1.6% to $8.14 in Thursday's trading session.

Thursday's Range: $8.05-$8.22

52-Week Range: $5.72-$8.99

Thursday's Volume: 727,000

Three-Month Average Volume: 786,981

>>4 Big Stocks on Traders' Radars

From a technical perspective, ELX bounced modestly higher here right above some near-term support at $7.95 with decent upside volume. This stock has been trending sideways inside of a consolidation chart pattern over the last month, with shares moving between 7.50 on the downside and $8.46 on the upside. This modest spike is now starting to push shares of ELX within range of triggering a near-term breakout trade above the upper-end of its recent sideways trading chart pattern. That trade will hit if ELX manages to take out some near-term overhead resistance levels at $8.34 to $8.46 with high volume.

Traders should now look for long-biased trades in ELX as long as it's trending above some key near-term support levels at $7.95 or $7.50 and then once it sustains a move or close above those breakout levels with volume that hits near or above 786,981 shares. If that breakout hits soon, then ELX will set up to re-test or possibly take out its 52-week high at $8.99. Any high-volume move above $8.99 will then give ELX a chance to tag its next major overhead resistance levels at $10 to $11.19.

Pixelworks

Pixelworks (PXLW) designs, develops and markets video and pixel processing semiconductors and software for high-end digital video applications. This stock closed up 1.1% to $3.40 in Thursday's trading session.

Thursday's Range: $3.40-$3.50

52-Week Range: $2.11-$4.95

Thursday's Volume: 63,000

Three-Month Average Volume: 326,500

>>5 Surprise Stocks th Pros Love Right Now

From a technical perspective, PXLW spiked modestly higher here right above its 50-day moving average of $3.37 with lighter-than-average volume. This spike is starting to push shares of PXLW within range of triggering a major breakout trade. That trade will hit if PXLW can manage to take out some near-term overhead resistance levels at $3.51 to $3.86 with high volume.

Traders should now look for long-biased trades in PXLW as long as it's trending above some key near-term support levels at $3.14 to $3 and then once it sustains a move or close above those breakout levels with volume that hits near or above 326,500 shares. If that breakout hits soon, then PXLW will set up to re-test or possibly take out its 52-week high at $4.95. Any high-volume move above $4.95 could then send PXLW north of $5.

To see more stocks that are making notable moves higher today, check out the Stocks Under $10 Moving Higher portfolio on Stockpickr.

-- Written by Roberto Pedone in Delafield, Wis.

RELATED LINKS:

>>3 Hot Stocks to Trade (or Not)
>>5 REITs to Trade for August Gains

>>5 Stocks Under $10 Set to Soar

Follow Stockpickr on Twitter and become a fan on Facebook.

At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Delafield, Wis., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.