BALTIMORE ( Stockpickr) -- There isn't a day that goes by on Wall Street when stocks trading near or under $10 a share don't experience massive spikes higher. Traders savvy enough to follow the low-priced names and trade them with discipline and sound risk management are banking ridiculous coin on a regular basis.
Just take a look at some of the huge moves today in some under-$10 names, including Zoom Technologies (ZOOM), up over 20%; Tegal (TGAL), up over 30%; ReneSola (SOL), spiking over 20%; and Multiband (MBND) up over 14%.
You don't even have to catch the entire move in such lower-priced stocks to make outsized returns when trading.
I'm not as eager to recommend investing long-term in stocks that trade for less than $10 a share because these names can be very speculative, and the odds for picking the long-term winners aren't great. But I definitely love to trade stocks that trade below $10. I like to view them as a trading vehicle with lots of volatility and lots of upside when the trade is timed right.>>5 Big Stocks to Trade for Gains When I trade under-$10 names, I do it almost entirely based off of the charts and technical analysis. I also like to find under-$10 names with a catalyst, but that's secondary to the chart and volume patterns. With that in mind, here's a look at a number of under-$10 stocks that look poised to potentially trade higher from current levels.