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5 Stocks Under $10 Set to Soar

Stocks in this article: CJJDAMCFGIGCBMXMSTXNVFY

Delafield, Wis. (Stockpickr) -- There isn't a day that goes by on Wall Street when certain stocks trading for $10 a share or less 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.

>>5 Stocks With Big Insider Buying

Just take a look at some of the big movers in the under-$10 complex from Thursday, including Pixelworks (PXLW), which is exploding higher by over 45%; Energy Recovery (ERII), which is soaring higher by 36%; InfoSonics (IFON), which is ripping to the upside by 28%; and China New Borun (BORN), which is jumping to the upside by 23%. You don't even have to catch the entire move in lower-priced stocks such as these to make outsized returns when trading.

One low-priced stock that recently exploded higher was China-based drug retailer China Jo-Jo Drugstores (CJJD), which I highlighted in Jan. 10's "5 Stocks Under $10 Set to Soar" at around $1.13 per share. I mentioned in that piece that shares of China Jo-Jo Drugstores had been uptrending strong recently, with shares moving higher from its low of 65 cents per share to its high of $1.18 a share. That uptrend was quickly pushing shares of CJJD within range of triggering a big breakout trade above some key overhead resistance levels at $1.18 to $1.32 a share.

>>5 Stock Charts to Buy for Gains in March

Guess what happened? Shares of China Jo-Jo Drugstores didn't wait long to trigger that breakout, since the stock exploded to the upside that same trading session with monster upside volume. Shares of CJJD tagged an intraday day high of $1.90 a share on January 10, but this stock was far from done going higher. After a quick pullback to $1.25, shares of CJJD once again resumed its uptrend and the stock tagged an intraday high on Wednesday of $2.84 a share. That represents a monster gain of well over 100% in right around two months for anyone who rode the trend higher in CJJD.

Low-priced stocks are something that I tweet about on a regular basis. I frequently flag high-probability setups, breakout candidates and low-priced stocks that are acting technically bullish. I like to hunt for low-priced stocks that are showing bullish price and volume trends, since that increases the probability of those stocks heading higher. These setups often produce monster moves higher in very short time frames.

>>3 Stocks Rising on Big Volume

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 several under-$10 stocks that look poised to potentially trade higher from current levels.

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