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 large movers in the under-$10 complex from Wednesday, including China Yida (CNYD) , which exploded higher by 61.8%; Bio-Path (BPTH) - Get Report, which ripped to the upside by 29.4%; Amedica (AMDA) , which soared higher by 22.6%; and Torchlight Energy Resources (TRCH) - Get Report, which spiked higher by 16.6%. 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.

Nuverra Environmental Solutions

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One under-$10 waste management stock that's starting to trend within range of triggering a major breakout trade is Nuverra Environmental Solutions (NES) - Get Report, which provides full-cycle environmental solutions to customers focused on the development and ongoing production of oil and natural gas from shale formations in the U.S. This stock has been hammered lower by the sellers over the last six months, with shares down large by 54%.

If you take a glance at the chart for Nuverra Environmental Solutions, you'll see that this stock has a massive uptrend line that dates back to its January low of $1.65 that continues to hold as support for the stock off any pullbacks. Shares of NES are now starting to trend higher right above its 50-day moving average and it's quickly moving within range of triggering a major breakout trade.

Market players should now look for long-biased trades in NES if it manages to break out above some near-term overhead resistance levels at $4.29 to $4.33 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 573,058 shares. If that breakout triggers soon, then NES will set up to re-test or possibly take out its next major overhead resistance levels at $5 to $5.50 a share, or even $6 to $6.50 a share.

Traders can look to buy NES off weakness to anticipate that breakout and simply use a stop that sits right below some key near-term support levels at its 50-day moving average of $3.60 to more support at $3.45 a share. One can also buy NES off strength once it starts to bust above those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.

American Apparel

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Another under-$10 stock that's quickly trending within range of triggering a major breakout trade is American Apparel (APP) , which designs, manufactures, distributes, retails and sells branded fashion basic apparel products and clothing and accessories for women, men, children and babies. This stock has been smacked lower by the sellers over the last three months, with shares off by 24.1%.

If you take a look at the chart for American Apparel, you'll notice that this stock is attempting to carve out a major bottoming chart pattern over the last month or so, with shares finding buying interest at 61, 59 and 62 cents per share. This stock ripped higher on Tuesday right off some near-term support at 62 cents per share with monster upside volume. Volume for that trading session registered over 3.3 million shares, which is well above its three-month average action of 737,018 shares. Shares of APP are now quickly approaching a major breakout trade above a massive downtrend line that dates back to last December.

Market players should now look for long-biased trades in APP if it manages to break out above some near-term overhead resistance levels at 70 to 71 cents per share and then above 73 cents per 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 737,018 shares. If that breakout develops soon, then APP will set up to re-test or possibly take out its next major overhead resistance levels at 85 to 90 cents per share, or even 95 to $1.05 a share.

Traders can look to buy APP off weakness to anticipate that breakout and simply use a stop that sits right around some key near-term support levels at 62 to 59 cents per share. One can also buy APP 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.

American Eagle Energy

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One under-$10 basic materials player that's starting to move within range of triggering a big breakout trade is American Eagle Energy (AMZG) , which engages in the acquisition, exploration, development and production of oil and gas properties. This stock has been annihilated by the bears over the last six months, with shares down huge by 90.5%.

If you take a glance at the chart for American Eagle Energy, you'll notice that this stock has been trending sideways a bit over the last month or so, with shares moving between 14 to 15 cents per share on the downside and 20 cents per share on the upside. Shares of AMZG are now starting to spike higher off some near-term support at 15 cents per share and it's beginning to trend within range of triggering a major breakout trade above a key downtrend line. That trend line has acted as tough resistance for the last two months or so.

Traders should now look for long-biased trades in AMZG if it manages to break out above some near-term overhead resistance levels at 20 to 21 cents per 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 784,976 shares. If that breakout materializes soon, then AMZG will set up to re-test or possibly take out its next major overhead resistance level at 26 cents per share.

Traders can look to buy AMZG off weakness to anticipate that breakout and simply use a stop that sits right below some key near-term support levels at 15 to 14 cents per share. One can also buy AMZG 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.

Halcon Resources

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Another under-$10 stock that's starting to trend within range of triggering a near-term breakout trade is Halcon Resources (HK) , which is engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties in the U.S. This stock has been hammered lower by the bears over the last six months, with shares plunging sharply lower by 52.3%.

If you look at the chart for Halcon Resources, you'll notice that this stock bounced sharply higher on Wednesday right off some near-term support at $1.40 with heavy upside volume flows. Volume on the day registered over 9.7 million shares, which is well above its three-month average action of 4.71 million shares. This strong bounce is now starting to push shares of HK within range of triggering a near-term breakout trade above some key overhead resistance levels.

Market players should now look for long-biased trades in HK if it manages to break out above some near-term overhead resistance levels at $1.60 to $1.62 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 4.71 million shares. If that breakout hits soon, then HK will set up to re-test or possibly take out its next major overhead resistance levels at its 50-day moving average of $1.75 to $2 a share, or even $2.06 to $2.30 a share.

Traders can look to buy HK off weakness to anticipate that breakout and simply use a stop that sits right below some key near-term support levels at $1.40 to $1.33 a share. One can also buy HK off strength once it starts to take out those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.

Alliqua BioMedical

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One final under-$10 stock hat's beginning to trend within range of triggering a near-term breakout trade is Alliqua BioMedical (ALQA) , which provides wound care solutions. This stock has been moving to the upside over the last six months, with shares higher by 24.1%.

If you take a glance at the chart for Alliqua BioMedical, you'll see that this stock has been uptrending a bit over the last few weeks, with shares moving higher from its low of $4.39 to its intraday high on Wednesday of $5.14 a share. During that uptrend, shares of ALQA have been making mostly higher lows and higher highs, which is bullish technical price action. Shares of ALQA spiked sharply higher on Wednesday back above its 200-day moving average of $5.06 with strong upside volume flows. Volume on the day registered over 570,000 shares, which is well above its three-month average action of 81,636 shares. That move is now starting to push shares of ALQA within range of triggering a near-term breakout trade.

Traders should now look for long-biased trades in ALQA if it manages to break out above some key near-term overhead resistance levels at its 50-day moving average of $5.23 and then above more resistance at $5.40 to $5.50 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 81,636 shares. If that breakout develops soon, then ALQA will set up to re-test or possibly take out its next major overhead resistance levels at $6 to $6.50 a share.

Traders can look to buy ALQA off weakness to anticipate that breakout and simply use a stop that sits right below some near-term support at $4.75 a share. One can also buy ALQA off strength once it starts to take out 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 was long APP.