DELAFIELD, Wis. (Stockpickr) -- There isn't a day that goes by on Wall Street when certain stocks trading for $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 big movers in the under-$10 complex from Wednesday, including Molycorp (MCP) , which exploded to the upside by 77%; Viggle (VGGL) , which soared higher by 43%; Saratoga Resources (SARA) , which ripped higher by 33%; and Pedevco(PED) - Get Report, which trended up by 32%. You don't even have to catch the entire move in lower-priced stocks such as these to make outsized returns when trading.

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.

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.

Weight Watchers International

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One under-$10 personal stock that's quickly moving within range of triggering a big breakout trade is Weight Watchers International(WTW) - Get Report, which provides weight management services worldwide. This stock has been hammered lower by the bears over the last six months, with shares down sharply by 66.7%.

If you take a glance at the chart for Weight Watchers International, you'll see that this stock has been downtrending badly for the last five months, with shares plunging lower from its high of $29.70 to its new 52-week low of $6.71 a share. During that downtrend, shares of WTW have been making mostly lower highs and lower lows, which is bearish technical price action. That said, shares of WTW recently put in a double bottom chart pattern at $6.83 to $6.71 a share. The stock has now started to break out above a key downtrend line.

Market players should now look for long-biased trades in WTW if it manages to break out above some key near-term overhead resistance levels at Wednesday's intraday high of $8.39 a share and then above more near-term overhead resistance at $9 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 1.63 million shares. If that breakout begins soon, then WTW will set up to re-test or possibly take out its next major overhead resistance levels at $10 to $10.40 a share, or even its 50-day moving average of $11.83 a share.

Traders can look to buy WTW off weakness to anticipate that breakout and simply use a stop that sits right below some near-term support levels at $7.77 to $7.50 a share. One can also buy WTW off strength once it starts to clear those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.

Sears Hometown

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Another under-$10 stock that's quickly trending within range of triggering a big breakout trade is Sears Hometown(SHOS) - Get Report, which engages in the retail sale of home appliances, lawn and garden equipment, tools and hardware in the U.S. This stock has been flushed lower by the bears over the last six months, with shares down sharply by 49.7%.

If you take a look at the chart for Sears Hometown, you'll notice that this stock has been downtrending badly for the last month and change, with shares moving lower from its high of $13.93 to its new 52-week low of $7.08 a share. During that downtrend, shares of SHOS have been consistently making lower highs and lower lows, which is bearish technical price action. That move has now pushed shares of SHOS into oversold territory, since its current relative strength index reading is 27.8. Oversold can always get more oversold, but shares of SHOS are starting to rebound here and approach a big breakout trade.

Market players should now look for long-biased trades in SHOS if it manages to break out above some near-term overhead resistance levels at $7.80 to $8 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action 107,859 shares. If that breakout develops soon, then SHOS will set up to re-test or possibly take out its next major overhead resistance levels at $8.50 to $9 a share, or even its 50-day moving average of $10.72 a share.

Traders can look to buy SHOS off weakness to anticipate that breakout and simply use a stop that sits right below its new 52-week low of $7.08 a share. One can also buy SHOS off strength once it beings to take out those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.

FX Energy

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One under-$10 energy stock that's starting to trend within range of triggering a big breakout trade is FX Energy (FXEN) , which produces, explores and develops oil and gas properties in the U.S. and Poland. This stock has been smacked lower by the bears over the last six months, with shares dropping sharply by 50.8%.

If you take a glance at the chart for FX Energy, you'll notice that this stock has been downtrending over the last two months and change, with shares falling sharply lower from its high of $2.86 to its recent low of $1.24 a share. During that downtrend, shares of FXEN have been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of FXEN have now started to come off that bottom and enter a mini-uptrend, with the stock moving higher from $1.24 to its recent high of $1.45 a share. That move has now pushed shares of FXEN within range of triggering a big breakout trade above some near-term overhead resistance levels.

Traders should now look for long-biased trades in FXEN if it manages to break out above some near-term overhead resistance levels at $1.45 to $1.56 a share and then above its 50-day moving average of $1.60 a share with high volume. Look for a sustained move or close above those levels with volume that registers near or above its three-month average action of 510,400 shares. If that breakout begins soon, then FXEN will set up to re-test or possibly take out its next major overhead resistance levels at $1.80 to $2 a share, or even $2.20 to its 200-day moving average of $2.39 a share.

Traders can look to buy FXEN off weakness to anticipate that breakout and simply use a stop that sits right below $1.30 a share. One can also buy FXEN off strength once it starts to rip above those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.

Cloud Peak Energy

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Another under-$10 stock that's starting to trend within range of triggering a near-term breakout trade is Cloud Peak Energy(CLD) - Get Report, which produces coal in the Powder River Basin and the U.S. This stock has been hit hard by the bears over the last six months, with shares falling sharply by 38%.

If you look at the chart for Cloud Peak Energy, you'll see that this stock has been attempting to carve out a major bottoming chart pattern over the last month, with shares finding buying interest at $5.62, $5.72 and $5.74 a share. Shares of CLD broke out on Wednesday above some near-term overhead resistance at $6.25 a share with strong upside volume flows. Volume for the day registered over 2.15 million shares, which is above its three-month average action of 1.95 million shares. That breakout is now quickly pushing shares of CLD within range of triggering another big breakout trade.

Market players should now look for long-biased trades in CLD if it manages to break out above some near-term overhead resistance levels at $6.74 a share to its 50-day moving average of $6.90 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average volume of 1.95 million shares. If that breakout kicks off soon, then CLD will set up to re-test or possibly take out its next major overhead resistance levels at $7.50 to $8 a share, or even $8.69 to $9 a share.

Traders can look to buy CLD off weakness to anticipate that breakout and simply use a stop that sits right below those recent major bottoming support levels. One can also buy CLD off strength once it starts to trend above those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.

22nd Century Group

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One final under-$10 stock that's starting to trend within range of triggering a major breakout trade is 22nd Century Group(XXII) - Get Report, which focuses on tobacco harm reduction and smoking cessation products produced from modifying the nicotine content in tobacco plants through genetic engineering and plant breeding. This stock has been slammed lower by the sellers over the last six months, with shares moving to the downside by a whopping 59.7%.

If you take a glance at the chart for 22nd Century Group, you'll see that this stock recently formed a double bottom chart pattern at 71 cents per share. Following that bottom, shares of XXII have started to move to the upside and it's now trending within range of triggering a major breakout trade above a key downtrend line.

Traders should now look for long-biased trades in XXII if it manages to clear a key downtrend line that will trigger over some near-term overhead resistance levels at 84 cents per share and then above 90 cents per share to its 50-day moving average of 91 cents per share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action 286,143 shares. If that breakout triggers soon, then XXII will set up to re-test or possibly take out its next major overhead resistance levels at 98 cents per share to $1.05 a share, or even $1.10 to $1.20 a share.

Traders can look to buy XXII off weakness to anticipate that breakout and simply use a stop that sits right below 76 cents to 74 cents per share, or even that 71 cents per share double bottom if you want to get give it more room. One can also buy XXII off strength once it starts to clear those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.