3 Under-$10 Stocks Bursting Higher

Tickers in this article: NVTL PPP RIC
WINDERMERE, Fla. ( Stockpickr) -- At Stockpickr, we track daily portfolios of stocks that are the biggest percentage gainers and the biggest percentage losers.

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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.

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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.

Novatel Wireless (NVTL)

This company is a provider of wireless broadband access solutions for the worldwide mobile communications market. This stock is trading up 8% to $1.35 in recent trading.

Today's Range: $1.25-$1.37

52-Week Range: $1.17-$3.69

Volume: 463,000

Three-Month Average Volume: 276,931

From a technical perspective, NVTL is bouncing strongly to the upside here right off some near-term support at $1.24 with above-average volume. This stock has been downtrending badly for the last six months, with shares plunging from a high of $2.61 to its recent low of $1.17. During that move, shares of NVTL have been mostly making lower highs and lower lows, which is bearish technical price action. That said, shares of NVTL are rebounding off that $1.17 and quickly moving within range of triggering a near-term breakout trade. That trade will hit once NVTL takes out some near-term overhead resistance at $1.45 with high volume.

Traders should now look for long-biased trades in NVTL as long as it's trending above $1.24, and then once it sustains a move or close above $1.45 with volume that hits near or above 276,931 shares. If that breakout hits soon, then NVTL will set up to re-test or possibly take out its next major overhead resistance levels at $1.61 to $1.80. Any high-volume move above those levels will then put $1.86 to $2.08 into focus for shares of NVTL.

Richmont Mines (RIC)

This company engages in the acquisition, exploration, development, and operation of mineral properties, principally gold in Canada. It operates the Beaufor Mine in Quebec and the Island Gold Mine in Ontario. The stock is trading up 4.4% to $3.04 in recent trading.