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5 Stocks Under $10 Set to Soar Higher

 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.

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Just take a look at some of the big movers in the under-$10 complex from Thursday, including Supertel Hospitality ((SPPR)), which exploded higher by 42%; Smith Micro Software ((SMSI)), which ripped to the upside by 26%; Kips Bay Medical ((KIPS)), which trended up by 22%; and Verso Paper ((VRS)), which jumped higher by 20%. 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's exploded the upside recently is ServiceSource International ((SREV)), which I highlighted on May 22 at around $4.25 per share. I mentioned in that piece that shares of ServiceSource International recently gapped down sharply from over $6 to $3.99 a share with heavy downside volume. Following that gap, shares of SREV formed a double bottom chart pattern at $3.99 to $3.95 a share. This stock was just starting to bounce higher off those double bottom support levels and it was quickly moving within range of triggering a major breakout trade above some key overhead resistance at $4.38 a share.

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Guess what happened? Shares of ServiceSource International triggered that breakout the following trading session with decent upside volume. This stock continued uptrend since triggering that breakout with shares of SREV tagging an intraday high on June 30 of $6.17 per share. That represents a huge gain of over 40% since the time of the original article. As you can see, trading small-cap stocks that trigger breakouts and catch momentum can deliver big profits in a very short timeframe.

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.

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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 trade higher from current levels.

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