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5 Stocks Under $10 Set to Soar

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.

>>Trade These 5 Big Stocks for Gains in April

Just take a look at some of the big movers in the under-$10 complex from Thursday, including Response Genetics (RGDX), which is exploding higher by 20%; Imprimis Pharmaceuticals (IMMY), which is ripping higher by over 11%; Ideal Power (IPWR), which is trending to the upside by over 10%; and Lucas Energy (LEI), which is jumping higher by 10%. 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 battery maker Highpower International (HPJ), which I highlighted in Mar. 20's "5 Stocks Under $10 Set to Soar" at around $5.37 per share. I mentioned in that piece that shares of Highpower International had recently pulled back off its high of $6.40 to its low of $4.21 a share. Following that pullback, shares of HPJ were starting to spike higher and quickly move within range of triggering a near-term breakout trade above a key downtrend line at $5.50 to $5.95 a share.

Must Read: Chart Smarts: Trade These 5 Big Stocks for Gains in April

>>5 Stocks Insiders Love Right Now

Guess what happened? Shares of Highpower International triggered that breakout in spades on April 1 with monster upside volume. Volume on that trading session finished at 4.06 million shares, which is well above its three-month average action of 477,544 shares. Shares of HPJ soared higher that day tagging an intraday high of $7.29 a share. Shares of HPJ have continued to trend higher with the stock hitting an intraday high today of $7.73 a share. That represents a monster gain of over 40% in a very short timeframe for anyone who played this setup.

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.

>>4 Stocks Breaking Out 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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